In China, the usage rate of blast furnaces and pig iron production in steel mills increased in November-February. However, the demand for iron ore, whose prices skyrocketed, showed a decline in the week of March 6, under the supervision of Chinese market experts. In addition, the number of stocks of structural steel, whose demand has increased noticeably, has decreased.
Two blast furnaces in eastern and northern China are expected to restart production this week. The demand for iron ore, whose demand has fallen due to the price increase, is expected to recover once production restrictions are lifted. It is stated that this will indirectly increase the price of construction materials.
A rise in the Fed's interest rate and increased controls will cause iron ore prices to swell.
Global shipments of iron ore and structural steel are expected to stabilize at a high level for the week of March 13, according to market representatives.
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