October has been a slightly odd one inthe steel and iron ore markets in China. Itroutinely gets off to a slow start each yeardue to the Golden Week holiday, only thisyear the important 19th Party Congressstarted mid-month and steel industryparticipants mulled the potential impactof the planned winter slowdowns andconstruction work suspections. Given thisscenario, it was not surprising to see theheat come out of steel prices, which in turnpulled down spot iron ore prices. It is difficultto see any significant price rebound in themonth ahead as sentiment remains muted.
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