Iron Ore Prices in East China to Grow Further

SHANGHAI, Mar 20 (SMM) - The large mines in east China were still in normal production. They carried almost no in-plant inventories of iron ore concentrate with the improvement in sales. On the demand side, orders placed by downstream companies in Wu'an increased. Traders slowed down the purchasing pace after the price increase in iron ore concentrates and held a wait-and-see sentiment. Local steel mills mainly restocked on demand amid the low profit margins. Besides, overseas iron ore prices rose somewhat last week. It is expected that the iron ore concentrate prices in east China will rise further this week.