Domestic Iron Ore Prices Rose in March

In March, the average price index of domestic ore prices rose by 23 yuan/mt, rising initially and then falling. At the beginning of the month, some areas restricted the use of explosives due to the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC) (Two Sessions), tightening local iron ore resources. On the demand side, the output of pig iron remained at a high level. The transaction of building materials picked up, and the demand for iron ore concentrates improved. In the second half of the month, domestic ore prices fell with steel prices.