SHANGHAI, Nov. 16 (SMM) – Iron ore prices in China’s market are expected to keep advancing this week, Shanghai Metals Market foresees.
At present, inventories at domestic steel mills are low, and this, combined with price advantages of domestic ore over imported ore, will stimulate buying interest.
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Meanwhile, Tangshan has announced the notice of production restriction in response to haze weather in north China, and this will reduce production at sintering furnaces, another price driver.
Moreover, the hike in trading margins for coking coal and coke futures contracts in China will trigger inflows of some capital to iron ore futures market.
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