CISA: Iron ore price index deviates from fundamentals

After market participants returned from the Spring Festival holiday, the production of iron and steel declined in Chinese market along with significant decrease in prices for steel products, but iron ore price index went up by about 15% and remained at a high level, fluctuating at large amplitude with increasing frequency.Asian Metal Copyright He said the CISA will ramp up its effort to supervise relevant information and data and advised steel and iron companies not to participate in futures market speculation.Asian Metal Copyright Luo Tiejun, Vice President of China Iron and Steel Association (CISA) said on March 5 that the current price index for iron ore is deviating from the supply-demand fundamentals and the spot market situation, and market participants should take precautions against relevant risks.Asian Metal CopyrightAfter market participants returned from the Spring Festival holiday, the production of iron and steel declined in Chinese market along with significant decrease in prices for steel products, but iron ore price index went up by about 15% and remained at a high level, fluctuating at large amplitude with increasing frequency.Asian Metal Copyright He said the CISA will ramp up its effort to supervise relevant information and data and advised steel and iron companies not to participate in futures market speculation.
.Asian Metal Copyright He said the CISA will ramp up its effort to supervise relevant information and data and advised steel and iron companies not to participate in futures market speculationAsian Metal Copyright