Australia's iron ore (62% Fe, CFR China) price on December 12 remained almost flat at US$103.7 compared with the previous day. Market participants noted that despite China’s official emphasis on maintaining stable economic growth next year, iron ore supply remains loose. Miners are increasing shipments toward year end, keeping supply side pressure in place.

At the same time, seasonal weakness has become more evident, and demand remains subdued. In the near term, iron ore prices are expected to trade in a volatile, range bound pattern.