China iron ore concentrates price rises again in few regions

It is reported that iron ore concentrate prices rises again. 1. In Liaoning.Iron ore concentrates price went up by around CNY 30 per tonne during the first few days of the national holiday. But it became steady in the last few days of the holiday with enquires increased and good transaction. Local steel mills sudden purchases increase promoted the market activity, and miners were busy with the production and sales. Recently, local steel mills increased the purchase price by CNY 30 per tonne and today the market also increase by CNY 20 per tonne to CNY 30 per tonne.

2. West Liaoning
66% iron ore concentrates price is CNY 920 per tonne, CNY 910 per tonne, CNY 900 per tonne in Jianping, Chaoyang and Beipiao respectively. In Jianping, we observe relatively good transaction which mainly comes from steel mills' purchases. And the sale to the outside is normal. Miners have incentive to carry out production and sales.
3. In Chaoyang
We saw one steel mill have resumed production at the end of September and started purchasing a good number of raw materials. Therefore raw material price went up and miners hold strong wait-and-see attitude and are reluctant to sell. On the other hand, price in Beipiao is the cheapest comparing with the other two, and sales are mainly to other regions instead of in local market.
4. In general
We understand that the resource availability in the region is low yet local steel mills' purchases are increasing. Especially there is one blast furnace have resumed production, which h boosts the demand. Thus we believe the iron ore concentrates price in Liaoning will sustain the stable rising momentum in short term.

Source: MySteel.net