MONTHLY: Seasonal supply increase to weigh on China iron ore prices in May

Prices for imported iron ore in China are expected to soften in May, pressured primarily by a potential surge in global shipments during the traditional peak supply season, according to Mysteel's latest monthly report on the commodity.

During April, iron ore prices fell initially but later rebounded, ending the month with an overall gain. For example, Mysteel SEADEX 62% Australian Fines averaged $108.8/dmt CFR Qingdao in April, up $0.9/dmt from the $107.9/dmt average recorded in March. Apart from the elevated freight rates from the ongoing hostilities in