Iron Ore Prices in West Liaoning to Go down Next Week

SHANGHAI, Mar 24 (SMM) – Major steel mills in western Liaoning frequently lowered iron ore purchase prices this week, prompting traders to follow suit.  Most mines took a wait-and-see approach, while some were more willing to sell out of fears that iron ore prices would go down further. Iron ore prices in western Liaoning are expected to continue to drop next week, but the downside room may be small following recent sharp cuts.