Iron ore price to swing at high level this week

Looking at this week, with the fulfillment of annual overseas shipment target, global shipments may fall slightly, but iron ore arriving at Chinese ports will remain high. Therefore, supply will be increasingly ample. Probably weaker spot replenishing demand this year, poor profits of steel mills and regulatory risks will add bearishness into iron ore market. Under this circumstance, iron ore price may fluctuate at a high level this week.