Iron Ore Futures Prices Hover at Lows Last Week on News Disturbance and Pessimistic Market

SHANGHAI, Apr 10 (SMM) - News said that relevant departments in China acted to monitor the iron ore market, and steel mills carried out production cuts when market players were generally bearish on the steel demand. These factors affected the market sentiment to a certain extent. The risks to the overseas economy also made the market less confident. Iron ore prices bore pressure from the fall in coke prices, compounded by the increase in the cost efficiency of steel scrap. The profit margins of steel mills were at the break-even point, which could hardly support the iron ore prices.