Steel production restrictions in China to exert no critical pressure on iron ore prices

摘要

Steel product prices started moving up in China in July, with domestic quotes of HRC increasing by $30/t month-on-month to $795-805/t EXW. In the second half of the month, global iron ore prices dropped by $13/t to $201/t CFR China amid pessimistic sentiments caused by large-scale production restrictions in H2 and rising port inventory.