Prices of Iron Ore Concentrates in East China to Rise Next Week

SHANGHAI, Feb 24 (SMM) - Iron ore concentrate prices in east China rose this week. Shipments from mines in Shandong which delivered long-term orders were normal, and the mines produced iron ore based on the sales. Steel mills' profit margins hovered around the break-even point, and they were less willing to restock. Besides, the mills carried low in-plant inventories of iron ore which can maintain their production for about one week. The overseas iron ore price index grew somewhat last week. SMM believes that iron ore prices in east China may burgeon next week.