Iron Ore Market Report April 2016
2016-05-16 19:00:39 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
Iron ore market recovered much in April pulled by the strong hike of downstream steel market in China. The soaring prices of steel products attracted many steel mills to enlarge production and prices of steel raw materials were pushed to rise as well though at a much slower pace. While prices of imported iron ore rebounded very quickly, prices of Chinese domestic iron ore also followed suit and many domestic iron ore mines enlarged production as well. By the end of the month, the horticultural exposition in Tangshan forced nearby steel mills to restrict production and demand of iron ore also slowed down after steel mills completed procurement, prices of imported iron ore started moving downward in the spot market at ports, but supported by the low output, prices of Chinese domestic iron ore remained firm.
Insiders do not expect downstream steel market to stay active in May when prices of steel products are very likely to fall again and iron ore market may be depressed to move downward as well. But in the first half of the month, prices of domestic iron ore may manage to go stable due to its limited output.
Insiders do not expect downstream steel market to stay active in May when prices of steel products are very likely to fall again and iron ore market may be depressed to move downward as well. But in the first half of the month, prices of domestic iron ore may manage to go stable due to its limited output.
