SMM Iron Ore Weekly: Global Shipments May Decline, Iron Ore Prices Forecast to Fluctuate Upward

Published: Jan 3, 2025 18:00

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[SMM Iron Ore Weekly Report] Looking ahead to next week, global shipments may fall back from highs. Additionally, due to the previous decline in shipments, port arrivals are also expected to decrease. On the demand side, according to SMM's blast furnace maintenance data, some blast furnaces are expected to resume production next week, and pig iron production is expected to stop declining and rebound. Furthermore, considering that steel mills will become more active in restocking after the New Year, iron ore spot prices are likely to receive some support. Iron ore prices are expected to continue fluctuating upward next week.

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