Iron Ore Lump And Pellet Premiums To Fall In June
In June, the demand for construction steel may weaken further and pig iron production is likely to decline. This, coupled with possible restrictions on crude steel production, will threaten demand for iron ore. Overseas mines tend to beef up shipments in June. In this context, iron ore prices are expected to fall, which will drag down pellet and lump premiums. To tackle poor profits, steel mills will be less willing to purchase more expensive high-grade ore.