China Iron Ore Prices Have No Rising Momentum on Poor Trading, Steelease Says

Published: May 26, 2015 15:21

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The price of iron ore is expected to hold largely stable in China’s domestic market this week, Shanghai Metals Market’s ferrous branch Steelease foresees.

SHANGHAI, May 26 (SMM) – The price of iron ore is expected to hold largely stable in China’s domestic market this week, Shanghai Metals Market’s ferrous branch Steelease foresees.

Waning demand at construction sites during the rainy season and the drop in profits at mills have reduced demand for iron ore, Steelease says.

The increase in imports of iron ore, whose price is falling, also combines to reduce buying interest in domestic ore.

Prices of Chinese iron concentrate rose by 10-20 yuan per tonne in some regions last week, according to Steelease data.

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