SHANGHAI, Mar. 22 (SMM) – Iron ore prices were mixed in major Chinese trading markets last week, but with overall prices still rising. Will iron ore prices in China continue advancing this week?
“Domestic iron ore prices still has rising momentum this week as ore supplies will not grow noticeably any time soon,” SMM iron ore analyst says.
Most of mines, which remain closed, will not restart production until late March or early April, SMM latest survey finds.
Moreover, production resumption at more steel mills and price advantages over imported ore will also give price rising momentum, SMM points out.
Earlier last week, imported ore prices fell, but rebounded slightly at some ports as the week progressed, with trading improving, according to SMM survey.
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