Texture from Argus:
China set winter pollution cuts of 2-3pc for east and central China today, raising ferrous price outlooks from expected steel supply cuts.
…While the overall targets are relaxed from last year, steel supplies are tighter with steel inventories falling at a moderate pace, which could support prices, a Hebei mill iron ore buyer said. Output restrictions will reduce iron ore demand, but “news about restrictions support the steel price, which then supports the iron ore prices. It is always this logic”, an east China-based steel mill manager said.
