Iron Ore Prices in West Liaonig to Grow

SHANGHAI, Feb 24 (SMM) - Prices in west Liaoning picked up this week. Steel mills have not raised their purchase prices yet. SMM believes that the iron ore prices in west Liaoning will mainly run steadily in the near future. Some traders and buyers who carried low iron ore concentrate inventories wished to restock, and the dressing plants insisted on higher prices. Sellers and buyers reached a consensus on the iron ore prices this week. SMM presumes that the iron ore prices in west Liaoning may grow somewhat in the near future. According to some traders, the market supply was tight. Dressing plants offered high quotes, while the traders were cautious in purchasing at high prices. Iron ore prices are expected to rise slightly in the following trading days.