MONTHLY: China's iron ore prices poised to weaken in February

Prices for imported iron ore in China saw a modest increase last month, supported by mills' restocking activities ahead of the Chinese New Year holiday in mid-February. However, with the seasonal restocking demand now fading and port inventories at an elevated level, ore prices are expected to decline this month, according to Mysteel's latest monthly report on the commodity.

During January, though the Mysteel SEADEX 62% Australian Fines index first strengthened and then pulled back, the monthly average assessed by Mysteel was still higher at $106.1/dmt CFR Qingdao, up by $0.6/dmt last December's $105.5/dmt. The rise in prices occurred despite a significant expansion in supply, a delayed reflection of