MYSTEEL: Iron ore price support from winter restocking seen limited

Although some Chinese steelmakers have already started accumulating iron ore to ensure they have sufficient feeds for steel production during the coming winter, buying interest among them is expected to be weaker this year, a new Mysteel report on the commodity cautions. This signals limited momentum for iron ore prices in the months ahead, it warns.

At this time each year, steelmakers in China commonly start building up their in-plant stocks of steelmaking raw materials ahead of winter to avoid transportation disruptions caused by cold weather, the report notes, explaining that the inventory build tends to begin in late September and lasts for three or