Iron Ore Market Ends Mixed, Eyes on Blast Furnace Resumptions and Downstream Demand

Publicado: Aug 28, 2024 17:06
Today, the iron ore market was strong in the morning but weakened later. The main contract I2501 finally closed at 754.5, basically the same as yesterday. Traders sold their goods according to the market. Steel plants purchased on demand. The overall market trading atmosphere was bleak today. The transaction price remained stable compared with yesterday; on August 28, the blast furnace operating rate of 242 steel plants surveyed by SMM was 88.23%, a decrease of 0.56% from the previous week. The blast furnace capacity utilization rate was 89.55%, a decrease of 1.03% from the previous week. The average daily output of molten iron from sample steel plants was 2.406 million tons, a decrease of 15,000 tons from the previous week. According to the current blast furnace maintenance and resumption plans, molten iron may rebound next week. Under the expectation of resumption, short-term ore prices may remain strong. Later, we should pay attention to the downstream demand. .........

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