Iron ore market report for May 2013
2013-06-08 14:59:20 【Print】
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Domestic iron ore market stayed relatively calm in early May but steel mills became procure more cautiously in mid May with more pessimistic expectation given by slumping prices of steel and imported iron ore, so numbers of domestic iron ore followed the downward trend. For example, numbers of iron ore fines 66%min in Tangshan dipped by RMB60/t from RMB1,050/t dt ex-work VAT included in early May to RMB970-990/t ex-work VAT included in mid may
. As downstream demand remained stagnant and steel market lacked of support from positive information, domestic iron ore prices were unlikely to rebound in June and the weak trend might persist .