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.