Iron Ore Prices to be Affected by the News Front

SHANGHAI, Mar 14 (SMM) - According to the shipping data tracked by SMM, the total global iron ore shipments increased slightly by 1.9% to 31.45 million mt this week. Shipments from Australia fell slightly, while those from Brazil rebounded significantly. And the arrivals at Chinese ports also ballooned. On the demand side, the pig iron output loss caused by blast furnace maintenance decreased. There is no obvious contradiction between supply and demand. Iron ore prices may still be greatly affected by the news front.