Chinese iron ore market: will prices go up or down?

摘要

Prices for iron ore have dropped in the Chinese market this week. The reason istoo rapid growth of quotations in January, which has caused considerableoverheat of the market. As a result, many steelmakers have become more carefulmaking purchases at the prices which are obviously too high. This has slightly?sober up? traders, which have quickly responded to falling demand and reducedoffer prices for the material.