Monthly Iron Ore Market Report Feb 2019
2019-03-13 08:44:02 【Print】
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Iron ore demand was weak in February affected by the Chinese Spring Festival
. Most steel mills completed restocking in advance and the transportation rush in the month also blocked delivery . However, the Vale dam burst kept increasing worries that iron ore supply would tighten further this year and prices of imported iron ore kept increasing even during the Chinese Spring Festival . Later the month, depressed by the poor sales and rising inventory of imported iron ore at Chinese ports, the price retreated gradually especially when downstream steel market stayed slow . Insiders are not optimistic about downstream steel market in March and prices of both imported and domestic iron ore are expected to slide further within the coming month.