SHANGHAI, Apr. 25 (SMM) – Trading sentiment in China's iron ore market is expected to pick up this week, Shanghai Metals Market foresees.
Last week, prices of China’s iron ore fell as SMM expected amid panic sentiment, and trading was poor.
However, trading is expected to improve this week, SMM foresees, in preparation for the upcoming May Day holiday and currently low prices. But, no large-scale replenishment is expected.
For price outlook, SMM sees small room for prices to drop further after continuous declines, and stabilizing prices on domestic iron ore futures market last Thursday and Friday supported market to some extent.
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