SHANGHAI: The recent rally in iron ore prices is expected to come to an end soon as domestic steel prices decline, leading Chinese steelmaker Baoshan Iron and Steel said in a briefing to shareholders on Tuesday.
"We forecast that iron ore prices will also end their recovery as steel product prices once again soften," said Zhu Kebing, board secretary of the company.
The firm said on Monday that its net profit in the first half of the year rose 0.65 percent year-on-year to 3.17 billion yuan ($494.34 million).
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