Imported iron ore prices will be dominated by fundamentals in November

Looking at the future, ample iron ore supply will be monitored, while pig iron output may further shrink, according to scheduled maintenance of steel mills tracked by SMM. In addition, iron ore inventory at ports will keep increasing. The increase in ore prices will probably trigger market supervision. In a word, there will be little room for imported iron ore prices to hike in November, and the prices may retrace down, weighed down by demand sluggishness after bullish sentiment fades.