According to Mysteel survey, at present about 80% Chinese steelmakers suspend iron ore purchase and eye a downward price trend this week. And purchasing supervisors in most mills decide to keep on purchase suspending and choose to wait and see a clear future trend.
Besides, 63% traders, after experiencing price fall last week also expect a bearish market this and next weeks. Only 10% traders think iron ore price would stop downturn and regain next week. The imported iron ore market is mainly expected to decline in the near future.
Mysteel puts this survey every week and 40 steelmakers who have great influence on imported iron ore market and 100 traders are involved in. This survey covers Lianyuangang Port, Tianjin Port, Jingtang Port, Rizhao Port, Lanshan Port, Qingdao Port, Zhanjiang Port and other main ports along China coast.