Suppliers hike prices despite poor demand in Chinese iron ore market

摘要

This week demand for iron ore was quite thin in China, yet exporters have hiked prices. Whereas early in the week suppliers pursued flexible price policy (no discounts, but no raises either), on Wednesday they changed the strategy, having announced higher prices for almost all types of iron ore. Yet, none of the strategies was successful, with Chinese consumers staying on the sidelines and buying only hand-to-mouth. Purchases are rare also due to the fact that steelmakers and traders hold a lot of the material in stock.