China’s top three steelmakers, Baosteel, WISCO, and Ansteel, are expected to raise their prices for September delivery by at least RMB300/ton in response to demand recovery and iron ore price increase in the third quarter.

Reportedly, steel price has rebounded by RMB300/ton in spot market since middle July.

The current iron ore price has surged to US$150/ton by US$30/ton compared to that a month ago.

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