Monthly Iron Ore Market Report Jun 2019
2019-07-12 19:06:11 【Print】
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Prices of both Chinese origin and imported iron ore soared in June
. Supply was very tight in the spot market due to decreasing import in the month . And as steel mills still could make some profits, they maintained as high operation rate as possible, which resulted in strong demand of iron ore . Many steel mills were forced to cut iron ore inventory in the month, but still failed to push down iron ore prices . In the meanwhile, prices of metallurgical coke kept sliding, lowering steel production costs accordingly and allowing steel mills to bear higher iron ore prices . Insiders mostly believe iron ore supply can hardly improve much within July and prices of iron ore may stay firm as a result.