<span class="wntoptext03"><span>Reportedly, Chinese domestic large scale mining companies jointly hiked the refined iron ore prices by RMB25~RMB30/ton on July 28th.</span></span><span><br> <span class="wntoptext03">It’s analyzed that the price hike for iron ore was driven by rising steel prices.</span><span class="apple-converted-space"> </span><br> <span class="wntoptext03">Furthermore, it’s expected that Chinese mining companies might continue to hike the ex-factory prices due to tight supply and strong demand for local offers.</span><br> <span class="wntoptext03">However, the price rise on steel prices may still not be able to offset the loss cause by the rising iron ore prices that steel industry suffered.</span><br> <span class="wntoptext03">According to statistics, China’s prices hike for iron ore were at 1.5% last week; while, that for steel products was merely at 0.4%.</span><br> ( Source: <a href="http://www.yieh.com/"><span><u><font size="3" face="Times New Roman">www.yieh.com</font></u></span></a> ) </span>