Iron Ore Prices Show Weak Volatility; Short-Term Rebound Prospects Uncertain Amid Economic Concerns

Publicado: Sep 6, 2024 16:26
Today, iron ore prices exhibited a weak and volatile trend, with the main contract I2501 closing at 684, down 0.07% for the day. Trading sentiment in the market remained subdued. The transaction price was 5 yuan/ton higher than yesterday's; recently, steel mill profits have recovered, and the pace of blast furnace resumption has accelerated. Coupled with restocking before the Mid-Autumn Festival, it is expected that iron ore demand will rebound next week, and fundamentals will continue to improve. However, considering the intensifying market concerns about economic recession, the market atmosphere is relatively sluggish, and the apparent demand for steel is weak. It is anticipated that iron ore prices are unlikely to see significant rebound opportunities in the short term and may continue to exhibit a weak and volatile trend. .........

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Today, iron ore prices exhibited a weak and volatile trend, with the m - Shanghai Metals Market (SMM)