Iron Ore Futures Weaken with Cautious Market Sentiment; Eyes on Real Estate Policy Ahead

Publicado: Oct 16, 2024 16:56
Today, iron ore futures showed a weak and volatile trend. The main contract I2501 finally closed at 782.5, with a daily decline of 1.88%. Traders were not very enthusiastic about shipping goods; steel mills were cautious and mainly purchased on demand. The market trading atmosphere was average today. The transaction price fell by 5-10 yuan/ton compared with yesterday; we should pay attention to the demand and inventory data of the five major materials tomorrow. In terms of macroeconomics, the State Council Information Office will hold a press conference tomorrow to introduce the situation of the real estate industry, and the market expects new policies to be introduced. It is expected that iron ore prices may fluctuate on the strong side...

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