Iron Ore Prices to Grow in Mar

SHANGHAI, Mar 8 (SMM) - In February, the prices of imported iron ore fluctuated slightly due to news factors. Some provinces and cities once again introduced favourable real estate-related policies, thus more downstream companies resumed production, which stimulated market sentiment and supported iron ore prices. The market also faced risks from the US Fed's rate hikes, overseas mine and railway accidents, and the trading limit issued by Dalian Commodity Exchange (DCE). Steel mills still intend to keep their inventories at low levels amid the slow recovery of profit margins. The mills may focus on consuming the in-plant inventory in stages in the later period to ensure cash flow. The strong fundamentals of iron ore and the recovery of demand for finished products have given the market some confidence. It is expected that the prices of imported iron ore will rise further in March.