Iron Ore Futures Fluctuate Downwards; Bearish Sentiment Intensifies But Rebound Expected Next Week

Published: Mar 21, 2025 17:10

Save

Today, the most-traded iron ore futures contract opened higher but moved downwards, fluctuating downward throughout the day. The most-traded I2505 contract closed at 757.5, with a full-day decline of 0.33%. Traders' willingness to sell was average; as the weekend approached, steel mills inquired less, and some mills purchased as needed; the market transaction atmosphere was quiet. Mainstream transaction prices fell by 2-5 yuan/mt compared to yesterday. As of March 21, recent continuous declines in ore prices have intensified bearish sentiment, and purchase willingness has decreased. Looking ahead to next week, both supply and demand for iron ore are expected to increase, but support is limited. However, considering the relatively small imbalance in the industry recently, and the market's weakening response to production limits and tariffs, it is expected that ore prices may rebound slightly after bottoming out next week.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

14 hours ago

[SMM Analysis] Steel Export Review: Geopolitical Conflicts Trigger the Reshaping of the Export Landscape

14 hours ago

15 hours ago

MMi Daily Iron Ore Report (March 30)

Today, iron ore prices opened higher but showed a volatile weakening trend during the session. The main contract I2605 closed at 813 yuan/ton, up 0.06% from the previous trading session. Spot prices remained largely stable compared to the previous trading day.

15 hours ago

16 hours ago

[China Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong May Continue to Fluctuate

[China Iron Ore Brief Review: Iron Ore Concentrate Prices in Shandong May Continue to Fluctuate] In Shandong, the pre-tax dry-basis price of 64-grade alkaline iron ore concentrates at mines and beneficiation plants fell by 5 yuan to 894 yuan, while steel mills also lowered prices in tandem. Most miners maintained normal production, inventory accumulation was not obvious, and most basically had no inventory. Steel mills’ purchases under long-term contracts remained unchanged, with most purchasing as needed and maintaining low inventory operations. On the news front, external market disruptions have not eased, and imported ore prices have remained at a relatively high level, which may provide some support for domestic iron ore

16 hours ago