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CISA: China’s iron ore prices seen softening further

China’s iron ore prices are likely to decline from their still relatively high level, the China Iron and Steel Association (CISA) stated in its latest iron ore monthly market analysis released on March 7. The association noted that domestic steel prices had plunged and that it’s hard to see iron ore demand among domestic steelmakers making any remarkable rise in the near future.
“Over the past several months the relatively high iron ore price has deviated from the movement of domestic steel prices – something that is unlikely to be sustained,” CISA observed in the report. According to Mysteel’s data, the national average HRB400 20mm dia rebar benchmark price, for example, averaged Yuan 3,628/tonne

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