Cailian association reported on 20th Feb, the iron ore market is set for a "severe" shortage, with prices expected to rise to $150 per ton, traders need to brace for 20 percent price spike in the second quarter of 2023，This association noted，The seasonal increase in Chinese steel production between March and April is expected to coincide with short-term supply constraints, leaving the market with a deficit of 35 million tons in the second quarter. The rise of raw materials will push steel market prices continue to rise.
