Spot Iron Ore prices have been holding high for past few months on robust demand from Chinese steel mills.
But this might be as good as it gets because steel producers are cutting prices and market sentiment is rapidly deteriorating, analysts say.
The steel and iron ore markets were bracing for “volatility on a declining trend”, said Yin Jimei, an analyst in China
''Steel mills are restructuring and it is possible that we'll see steel mill bankruptcies in the near future,'' Ms Yin said. ''Iron ore prices are likely to fall.''
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