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Iron ore market to tighten briefly but surplus looms

Rising Chinese steel output has triggered an increase in the country’s iron ore demand, pointing to potential supply tightness in the short term. However, rising iron ore production in future combined with macro-led demand destruction suggest a supply glut later this year.

Iron ore market to tighten briefly but surplus looms Iron ore market to tighten briefly but surplus looms Iron ore market to tighten briefly but surplus looms Iron ore market to tighten briefly but surplus looms Iron ore market to tighten briefly but surplus looms

China's iron ore demand has picked up in recent weeks

Iron ore inventory in China, the world's largest consumer, has seen a steady gradual decline since the end of January.

Seaborne stockpiles at 35 major domestic ports fell to 108.