Chinese Market - Iron ore prices may continue dropping on high inventory
Recently, the iron ore prices have dropped in Chinese market. At present, China ’s prices of iron ore contain 63.5% Fe are at US$180/ton, down by US$10/ton from that in the beginning of this month.
It’s analyzed that the price drop of iron ore in China was caused by the high inventory. According to statistics, the iron ore stocks in Chinese coastal areas have reached 92.46 million tons, which is almost close to the highest level of this year.
Analysts indicated that the price dip of iron ore might depress the steel prices in Chinese market.
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