"We expect steel supply in China to begin to moderate imminently; stated differently, this suggests iron ore demand is in the process of waning, which, against a backdrop of near-record/record iron ore inventories and aggressive domestic and seaborne iron ore supply, paints a nightmarish picture for iron ore prices over the coming months".
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ASIA IRON ORE: Spot prices climb on stronger mill demand
Chinese steelmakers have succeeded in a push to include domestic iron ore price indices in some annual supply contracts with global miners, four industry sources said, as the world's top buyer boosts its clout over pricing of major commoditi.
Steel and iron ore prices rose to year-to-date highs on Monday after China’s top steel-producing region announced it would extend winter production curbs intended to cut air pollution Tangshan steel mills were forced to cut production by up to 50 per cent beginning late last year as part of a.
Some Chinese steel mills are responding to the strong domestic scrap price by switching back to using higher proportions of iron ore in the burden mix An S&P Global Platts analysis of the relationship between iron ore and scrap prices shows that there has been a significant divergence for the first time since.