Due to the coming Chinese winter heating peak and Beijing Winter Olympics, the Chinese government imposed pressure again on steelmakers to curb their output, which will cause Australian iron ore prices to slide again.

The Ministry of Industry and Information Technology and the Ministry of Ecology and Environment have proclaimed the declaration, requesting major steelmaking cities in northern China to extend the period of production restriction until March next year.

Therefore, the demand for iron ore in China will keep being suppressed until March next year, and Australian iron ore prices may drop as the corollary.