There is some relief for iron ore miners as spot prices fall stall on Chinese government announcement of stimulus package on speeding up infra projects in the country.
Though Industry experts believe that it will not have immediate effect on iron ore prices and over capacity will still remain a concern for Chinese steel industry.
“We do not see much support on government package though it has given some relief to the steel market.But we guess it should be short lived and over production will make steel prices in China under pressure.” said Mr Mark from a research company based in Australia.
Also it takes time to implement such large projects, question is when will the actual demand come, he further added.
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