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According to sources, while the price of marine iron ore concentrate has fallen. But the price of pellets has been rising in the week ending Friday, September 3, on the other hand, demand has fallen due to fears of further decline in steel production in most Chinese provinces.
Due to the market perception of strengthening supply in the commodity exchange, the continued decline in world prices, the shock of falling iron ore prices along with weak demand, all the fundamental factors of the market are in favor of falling steel prices. Of course, the market is always resistant to declining trends due to price stickiness. Due to power outages, prolonged blackouts and long shutdowns of steel production lines, the supply of steel products decreased.