Domestic And Seaborne Iron Ore Prices March Review And April Forecast

The average price index of domestic iron ore concentrates fell by 131 yuan/mt in March. In April, iron ore supply may be ample in a peak season of shipments, while growing pig iron productions will boost concentrate demand somewhat, but slow pick-up of terminal demand was currently reported. Imported ore prices softened. Domestic iron ore market may swing on a weak footing in April.

Imported iron ore prices kept trending lower in March. In April, iron ore market may see firmness in supply and demand. On the supply side, although heavy rains in Brazil may dent shipments, total amount of overseas shipments will likely hike in April.