Iron ore prices for February 25, 2020:
Prices are treading water now rather than rising. I still say big falls are ahead as seasonal weakness in supply fades and steel inventories push mills to cut production owing to weak end-useer demand. Via Argus:
Mills are meeting domestic orders for February that were received before the lunar new year holiday but order flows are meagre for March and April, Cisa said. It is unclear whether all March orders received before the holiday will be met. First-quarter exports will fall year on year, with February’s decline to be “large”. April-May exports may increase from the first quarter but still decline on a year-on-year basis, it said.