Iron ore prices continue to fall

According to the business community, the price monitoring data as of April 24th, Australia PB powder 62% iron ore port average price of 516.11 yuan / wet ton, while on Thursday, the price also appeared in the stage (before 2 months) low price of 494.44 yuan / wet ton, four days or up to 4.38%. The futures market, iron ore contract also rose 24 points, or up to 5.06%.

Business agency iron and Steel Branch He Hangsheng believes that the current strong rebound in ore prices, or a flash in the pan, the latter should still be based on shock down. Mainly based on the current end of the market due to poor sales of finished goods inventory backlog, and then continued to shrink in the steel industry profits, began to decline, the expected decline in demand for minerals.