Domestic Iron Ore Prices In China Showed V-Shaped Pattern In May
In May, the average price index of domestic iron ore dropped by 65 yuan/mt, showing a trend of falling at first and then rebounding. In early May, steel mills purchased iron ore as needed and kept raw material stocks at low levels due to poor profits. Steel mills lowered iron ore purchase prices. In mid-to-late May, some steel mills restarted blast furnaces as falling coke prices improved their profits, boosting iron ore demand and prices.