China Iron Ore to Keep Rising This Week, SMM Says

SHANGHAI, Apr. 19 (SMM) – Iron ore prices in China’s domestic market rose last week, Shanghai Metals Market reports. What’s the outlook for iron ore price this week? 

“China’s iron ore are expected to hold largely stable, but will keep rising in some regions,” SMM iron ore analyst predicts.  

China Sees New Record High in Crude Steel Output in March, SMM Reports

Domestic steel mills have increased ore purchases with profit growing, SMM survey finds, and this will continue support ore price this week. 

“A big rise of imported ore, briefly up to $ 60 per tonne, will also increase buying interest in domestic ore,” SMM points out. 

On the supply side, domestic ore will not grow significantly this week, SMM expects.  

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