Iron Ore Futures Fluctuate Slightly as LPR Holds Steady, Outlook Mixed Amid Typhoon Concerns and Pre-Holiday Restocking Demand

Publicado: Sep 20, 2024 16:34

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Today, iron ore futures opened high but closed low, with the main contract I2501 ending at 680, gaining 0.15% for the day. Traders were willing to sell; steel plants replenished stocks as needed. Market trading atmosphere was average today. The transaction price fell by 0-10 yuan/ton compared with yesterday; the Loan Prime Rate (LPR) for September remained unchanged, disappointing market expectations and leading to a slight correction in the market. Looking ahead to next week, the volume of iron ore arrivals may continue to decline due to the impact of typhoons; however, supported by the increase in iron and steel production and the demand for restocking before the holiday, iron ore prices are expected to show a relatively strong and volatile trend. .........

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