SMM Daily Comment On Domestic Iron Ore Market (Sep 15)

SHANGHAI, Sep 15 (SMM) – The strong trend of imported iron ore may drive Shandong ore price growth recently. Local steel mills were short of funds and could only maintain basic production and procurement. However, steel mills tended to purchase iron ore at low prices, so the transaction volume increased. Luzhong resumed production and the capacity increased by about 4,000 mt, but the relief of supply shortages was limited. The average price index of imported ore rose sharply this week, and local iron ore is still expected to move upward.