Imported Iron Ore Prices To Rise Before Falling Back In July, Watch Out For Potentially Tightening Supervision After Sharp Price Gains

SHANGHAI, Jul 6 (SMM) – Looking into July, both negative and positive factors have been priced in. Shipments from Australia and Brazil will remain high, which will keep future supply abundant. According to steel mills’ maintenance plans, the output of pig iron will remain relatively high, thus iron ore supply- demand imbalance is unlikely to be prominent. Market should be alert to whether regulators will tighten supervision after big price gains. Changes in steel mills’ profits and off-season for steel market also deserve attention. SMM sees imported iron ore prices rising initially and then falling back in July.

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