SHANGHAI, Jul. 11 (SMM) – Iron ore prices in China’s domestic market advanced for 2 weeks in a row, and in Hebei, prices were up totally by 30-65 yuan per tonne.
Will the rising momentum be continuing this week?
Open-pit Mine Capacity in Hebei to Fall 8-13 per cent by 2018 after Inspections, SMM Forecasts
SMM survey finds that domestic steel mills, which completed stock-piling, largely take a wait-and-see attitude after price gains. But, decent profits at steel mills still incentivize their production.
To sum up, SMM predicts iron ore prices in China’s domestic market will hold largely stable this week, and prices in the region of which saw slower rising pace are likely to catch up gains.
China Iron Ore Port Inventories Fall for 2nd Straight Week, SMM Reports
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