Iron Ore Futures Prices Fluctuate Upwards in Feb

SHANGHAI, Mar 8 (SMM) - In early February, the market sentiment was relatively optimistic following the futures prices. The BHP Billiton railway accident was expected to affect iron ore shipments in the short term. Under these circumstances, iron ore prices rose. Besides, the supporting real estate and infrastructure-related policies in China and the higher-than-expected US CPI data boosted the traders' confidence. However, the relevant departments have issued price controls frequently. News of the increase in Australian coal supply, the accumulation of port inventories and DCE's trading limit also dragged down the iron ore prices. At the end of February, the favourable macro policies once again boosted the market sentiment, thus the overall futures prices fluctuated upwards in the month.