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China Iron Ore Price to Rise This Week
Oct 15,2014 10:16CST
industry news
Source:SMM
Iron ore price in China’s domestic market is expected to stabilize this week, and to gain in some regions, Shanghai Metals Market’s ferrous branch Steelease foresees.

SHANGHAI, Oct. 15 (SMM) – Iron ore price in China’s domestic market is expected to stabilize this week, and to gain in some regions, Shanghai Metals Market’s ferrous branch Steelease foresees.

The recovery in steel demand will give support to ore price, Steelease expects.

The most recent Steelease survey of major steel downstream sectors shows that consumption improved in September, helping price of steel products rebound. This, coupled with stockpiling ahead of winter months in north China, should increase demand for ore, Steelease understands. 

Besides, the price for imported ore has fallen below cost lines at most overseas mines after sharp losses in September, leaving little room for further declines.  
 
Last week, iron ore price in China’s domestic market was mixed. Price in Hebei climbed 15 yuan/tonne, while price in Liaoning fell 10 yuan/tonne.
 
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