The iron ore market firstly fell and then turned stable. The iron ore market price difference between domestic ore and imported ore narrowed. Although mineral separation production fell obviously and ore enterprises held prices firm affected by the environmental protection, steel plant reduced prices greatly and main ore enterprises had to follow the price decrease trend due to external ore advantages.
Main lump ore and pelletizing resources were tight in external market and presented a low level. All transport vehicles via Caofeidian Port from 0 o’clock, May 11 to 0 o’clock, May 16 suffered traffic control, which promoted the purchase activity in Tangshan.
This week, domestic ore supply weakens under environmental protection pressure. During the “Belt and Road” Forum, steel plants were mostly overhauled and under traffic control, leading to weakening demand and increasing pressure. Traders and steel plants held bearish mood towards the May and June market. It is predicted that ore price may keep fluctuating slightly at lows.