SMM daily comment on domestic iron ore market (Aug 17)

SHANGHAI, Aug 18 (SMM) –

The domestic iron ore market in the western Liaoning mainly stood stable. A pick-up of apparent demand for construction materials injected market confidence into the overall ferrous metal market. A big bulge in imported iron ore eased negative sentiment. Local iron ore concentrate market firmed up. Therefore, there was a small amount of inventory replenishment in Tangshan, but few inquiries were still monitored. In addition, the outflow of iron ore boosted local prices to a certain extent. However, with low profits, steel mills were reluctant to increase bids. It is expected that The domestic iron ore market in the western Liaoning will continue to stabilize in the near future.