China's domestic iron ore market fluctuates in Feb
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Update time : 2024-02-19 17:19:13
In January 2024, China's domestic iron ore market experienced narrow fluctuations, and the price was relatively higher compared to the corresponding period in previous years. Market sentiment initially surged due to winter stockpiling expectations and disruptions from a derailment incident.
In the middle of the month, steel mills faced profit constraints, reducing production and intensifying ore demand pressure. As the month ended, unfinished pre-Lunar New Year holiday restocking and favorable central bank policies stabilized the market. February's outlook anticipates continued volatility amidst slow steel mill orders and global shipping reductions, influenced by seasonal factors and cautious policies.
