SHANGHAI, Aug 28 (SMM) –
Prices of domestic iron ore in Shandong rose. Luzhong Mining Group Co., which is a leading mine, was still in a state of suspension, and after a mine in Zibo raised its selling price, shipments were mainly sent to Hebei as before. The current situation of shortage of mineral resources was difficult to change. Continuously rising quotations of large mines drove up purchase prices of Hebei Wu’an steel mills. Considering that the price index of imported ore soared this week, local ore prices are expected to increase.
On the whole, the stalemate between supply and demand in the domestic mine market remained. Tight supply put sellers generally in a bullish mood. However, thin profit margins led to cautious purchasing sentiment in the face of high prices. Considering the high cost and low supply, there is still upward room for ore price in some areas.
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