Publicado: Mar 8, 2024 18:06
【SMM Iron Ore Weekly】 Looking ahead to next week, the recent increase in demand for building materials continues to narrow the inventory accumulation. In addition, the recent significant drop in raw material prices has led to an expansion in steel mill profits. The increase in blast furnace production driven by the resumption of production at steel mills, with some blast furnaces planning to resume production, is expected to lead to an increase in iron output. However, import data shows that iron ore imports in January-February increased by over 8% year-on-year. Iron ore port inventories are still at a high level, increasing inventory pressure and suppressing the rise in ore prices. Taking into account the interference from the macro news, it is expected that iron ore prices will continue to fluctuate within a narrow range next week.

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