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August iron ore contract price is under negotiation between suppliers and steel mills in South China.Chinese miners expect a rise of as high as CNY 30 to CNY 50 adding spot quotation for imported iron ore at Chinese ports and domestic mined iron ore in the North had rose by over CNY 60 since the month began.Steel mills confirm a potential growth in their procurement price but said it may be under miner's expectation. That won't rule out the possibility that part steel mills, whose concentrates arrivals last month was less than estimation, may announce a slightly higher procurement price, said SteelHome contacts.