China Iron Ore Price to Hold Firm, SMM Says

SHANGHAI, Jul. 19 (SMM) – Iron ore prices in China’s domestic market are expected to hold firm this week, Shanghai Metals Market foresees. 

Last week, iron ore prices in China’s domestic major markets advanced across the board, according to SMM data. 

“The gain is due mainly to rising futures prices in China’s market and higher prices of imported material,” SMM iron ore analyst says. 

Iron Ore at Tianjin Port Affected by Heavy Rains, SMM Reports

This week, limited supply of domestic ore and consumption advantages will help prices hold firm, SMM expects.  

Moreover, steady demand from domestic steel mills, with profits at around 100 yuan per tonne, will also support domestic ore prices, SMM adds.   

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