Domestic Iron Ore Prices To Rise Initially And Then Fall Back In June After Fundamentals Worsen

SHANGHAI, Jun 8 (SMM) – In June, domestic iron ore prices may show a trend of rising at first and then falling back. At the beginning of the month, domestic ore prices rose due to climbing imported ore prices and tight supply. High pig iron production will ensure strong iron ore demand and help sustain the upward trend of iron ore prices. However, sinter production restrictions in some areas and possible production cuts at blast furnace steel mills will weigh down domestic ore prices in the second half of the month.