Imported Iron Ore Prices Likely to Fluctuate with Occasional Drops This Week

SHANGHAI, Mar 28 (SMM) - Iron ore shipment volume in March has increased, which will drive up the arrivals at ports this week. However, the pig iron output grew slowly, and the demand for iron ore gradually peaked. The supply tightness offered weaker support to the prices, while the high demand from steel mills which carried low in-plant iron ore stocks while maintaining high operating rates limited the decline in the iron ore prices. Considering the large drop in the imported iron ore prices last week, there should be a price rebound this week. But the prices are expected to move rangebound with some downward potential due to the iron ore price control and the influence of macro data.