The price of imported iron ore has been adjusted recently.
Domestic steel production continued to fall, and the replenishment of iron ore was coming to an end. The price of iron ore dropped from a high level. At the same time, the overall overseas steel market fell steadily, and there is insufficient impetus driving the price of iron ore recover.
It is worth noting that by the end of January, the iron ore inventory of 34 major ports in China was 115.17 million tons, an increase of 540000 tons on a month on month basis. In February, iron and steel enterprises prepared enough iron ore stocks in advance, the short-term iron ore demand weakened, while the import of iron ore remained stable, and the supply slightly exceeded the demand. Judging from the current situation, traded deserted on the whole.
In addition, high profits have greatly stimulated the capacity expansion of overseas mines, and the supply of iron ore continues to increase.
Source: translated by editor
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