In April, the profits of steel mills have continued to be under pressure, and the downstream demand has not improved significantly. According to SMM survey, the output of pig iron may peak in mid-April, weakening demand for iron ore concentrates. On the supply side, some iron ore mines that stopped production may gradually resume the production and supply may be ample. Overall, it is expected that domestic ore prices will weaken in April.
SMM Forecast for Domestic Iron Ore Prices in April
In April, the profits of steel mills have continued to be under pressure, and the downstream demand has not improved significantly. According to SMM survey, the output of pig iron may peak in mid-April, weakening demand for iron ore concentrates.
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