Recently, the profits of Chinese steel producers have increased, and this has continued to increase the demand for iron ore. However, the failure of the final demand performance in the peak period to meet expectations will quickly lead to pressure on steel prices and thus prevent the change in ore prices.
On the other hand, China's domestic mine supply has recovered as expected, but the short-term increase has been limited due to the impact of major conferences and coal mine accidents.
China's strong demand for iron ore is supporting ore prices, but the increase in demand seems limited. Therefore, this situation prevents ore prices from increasing.