Futures Prices of Iron Ore Fell in April amid Unfavourable Factors

SHANGHAI, May 11 (SMM) - In April, the government control, steel mills’ production cut and rumours of crude steel output control  triggered pessimistic mood in the market and the iron ore prices fell sharply. The terminal off-season and rainy weather in May will weigh on the demand for finished steel. Overseas shipments are gradually recovering, but the output of pig iron will still decline in May. However, considering the uncertainty of the rumours and the high output of pig iron, the futures prices may rebound. It is expected that the futures prices of iron ore will continue to fall in May.