Iron Ore Futures Rise 4.19% Amid Strong Selling Sentiment, Spot Price Hikes Constrained by High Inventories

Publicado: Sep 25, 2024 17:10
Today, iron ore futures continued to fluctuate on the strong side, with the main contract I2501 closing at 709, up 4.19% for the day. Traders showed a strong willingness to sell; steel mills remained cautious and continued to observe the market, with some purchasing on an as-needed basis. The trading atmosphere in the market today was weaker than that of yesterday. Transaction prices rose by 5-10 yuan/ton compared with yesterday; favorable market policies continued to be announced, boosting market sentiment and driving up iron ore futures prices. However, the current high port inventory suppressed spot price increases, narrowing the futures-spot price spread. In the short term, iron ore futures prices may continue to fluctuate on the strong side, but the momentum for spot price increases appears insufficient...

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