(Scrap Monster): China iron ore spot prices remained steady on Monday as traders were waiting for signs in the opening of this week.
Meanwhile the rising raw material prices and easing Shanghai rebar futures were creating worries for the traders.
Steelmakers in the world's top producer China have been on track to replenish stocks for two weeks, buoyed by strong steel production and rising steel prices, while gains have slowed since last week as flat steel product mills have faced weaker demand and were thus reluctant to accept rising offers.
China's steel association expected the country's steel output to stay strong in the second half of this year as investment in infrastructure and social housing underpins demand, while flat steel producers may face a worsening supply glut