Iron Ore Futures Maintain Strong Volatility, Prices Rebound on Improved Macroeconomic Outlook

Publicado: Nov 5, 2024 16:38
Today, iron ore futures continued their strong volatile trend, with the main contract I2501 closing at 791, up 2.53% for the day. Traders exhibited a strong willingness to ship goods; steel mills also saw an improvement in finished product shipments, which drove up raw material purchases. Market trading activity was robust today. Transaction prices rose by 10-15 yuan/ton compared to yesterday; according to SMM survey data, blast furnaces were mainly focused on resuming production this week, and molten iron output has been increasing for nearly two weeks. Coupled with improved macroeconomic expectations, market sentiment was boosted, leading to a continued rebound in iron ore prices. In the short term, driven by macroeconomic expectations, iron ore prices are expected to remain volatile but strong. ......

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