According to the Guangzhou Daily reported, mainstream imported iron ore prices rose to 120 U.S. dollars / ton again recently,and some iron ore prices rose more than 30% comparing with the Phased low prices in Septemeber which is far more than the increases in steel prices during the same period. Insiders believe that, although the recovery in demand for iron ore, the main reason for the iron ore prices rose far more than the price of steel or iron ore market is monopolized by the Big Three iron ore companies. Due to the profits arising, the rising price of iron ore,The profits from increasing steel price will be eaten by higher raw materials prices recently.

China Steel Association Deputy Secretary-General Qu Xiuli said there has been some improvement in iron ore demand recently, and the early steel mills in digest inventory led to the market's iron ore low inventory, many companies have to fill inventory after steel prices rebound. In addition, the winter stock will increase some purchases.

                                                        From XINSTEEL NEWS