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In the new year, the iron ore market goes up sharply again and again for each day. And now the Indian iron ore fines 63.5% is rocketed to 155-157USD/mt CIF China. The iron ore price rebounds greatly by 25-30USD/mt in two weeks.
Why will the iron ore market continue to increase sharply for the low economy situation? According from Mining Bulletin, there are some reasons on the market.Firstly, they have a good outlook of the future market although EU and US economy is still weak. Secondly, the Chinese port stocks is down to lowest levels, most of the steel mills stocks is also down to regular levels. Some steel mills stocks can only used for 3-5 days. Thirdly, Chinese steel mills would like to add more iron ore in winter. So the demand for iron ore is strong and drive up the market. (Reported by Mining-Bulletin)