Iron Ore Price, page-19

25 Feb4:16 PM
[SHANGHAI]

China's iron ore futures fell on Wednesday, the first trading day after the Lunar New Year holiday, posting their worst session in more than two months due to a lack of buying interest from steel mills in the world's top consumer.

Iron ore prices are expected to remain stagnant over the next few weeks until the construction season begins at the end of March, analysts said.

"The market is still in an 'off' mode now as Chinese buyers have not yet come back," said Xu Huimin, an analyst with Huatai Great Wall Futures in Shanghai.

"The strong momentum ahead of the holiday was not sustainable. The steel demand recovery won't probably happen unless the government rolls out more policy easing and approves more infrastructure projects," she said.