SMM Daily Comment On Iron Ore Market In Tangshan

SHANGHAI, Apr 25 (SMM) – The iron ore market in Tangshan remained sluggish yesterday April 24. Local major steel mills will issue bids today, which may decline. More dressing plants have shut down, while traders also suspended quotations to see how the market situation will evolve. While the Labour Day holiday is only a week away, most steel mills have not yet made plans to stock up.  Sellers fear that iron ore prices will go down this week, and a few who hold high levels of inventories began to dump cargoes. In view of weak steel market and thin profits of steel mills, iron ore prices in Tangshan will face downside risks.