Seaborne Iron Ore Prices to Move Rangebound

The recent seasonal disturbances have weakened, and global shipments have remained high. Shipments arrivals are expected to increase this week.

On the demand side, the output of pig iron still has room to increase due to the resumption of blast furnaces.

Iron ore fundamentals are still stable.

The improving weather may lead to an increase in the demand for building materials. The apparent demand recovery will support ore prices. However, regulations by Chinese authorities and rumours of crude steel production reduction will continue to have a major impact on ore prices. It is expected that prices of imported iron ore to move rangebound this week.