China mills’ restocking supports import iron ore prices

China’s imported iron ore prices are likely to remain buoyant for the immediate future, thanks to additional procurements many steelmakers are undertaking ahead of the upcoming National Day Holiday over October 1-7, according to market sources on Wednesday.

“Iron ore prices may remain relatively strong short-term, because there are still many mills needing to buy some additional iron ore quantities ahead of the holidays. As long as trading is still active, prices will not fall too much,” a Fujian-based iron ore trader in Southeast China said, adding