Short-term Iron Ore Prices in Tangshan Likely to Fall

SHANGHAI, Mar 20 (SMM) - Iron ore prices in Tangshan ran stably, while the overseas prices dropped. Some traders were worried about the market outlook amid the dropping steel prices. According to SMM survey, some mines and dressing plants wished to ship some goods. The local leading steel mills may cut their purchase prices on lower profit margins, but the tight iron ore concentrate supply may prop up the prices to some extent. SMM believes that the iron ore concentrate prices will not slump in Tangshan. The short-term prices will be stable with occasional drops.