Iron Ore Prices may Run Weakly in May amid the Unfavourable Factors

SHANGHAI, May 11 (SMM) - In April, the government announced no output cut or increase in crude steel. In terms of fundamentals, although overseas seasonal disturbances subsided in April, the arrivals at Chinese ports declined obviously due to the poor weather condition in Australia. However, the maintenance of blast furnaces in Shanxi and the production cut caused by poor demand for finished products triggered sight decline in pig iron output. On the whole, the iron ore prices may run weakly in May amid the unfavourable factors.