Iron Ore Prices May Rebound After Short-Term Consolidation

Publicado: Nov 29, 2024 09:14
According to the SMM imported ore cost-profit table, the profit from imported ore is basically flat; the apparent demand for rebar has slightly decreased, while inventory has increased slightly. The demand for construction materials has entered the off-season, and coupled with the impact of future weather factors, demand is expected to weaken further. Additionally, there are reports of a certain steel mill controlling production, leading the market to expect a weakening in iron ore demand, which suppresses ore prices at low levels. Given that some steel mills have already started stockpiling before the Chinese New Year, the spot market for future transactions is active, providing some support for iron ore prices. It is expected that after a short-term consolidation, iron ore prices may strengthen again, and the profit from imported ore still has some potential for increase.

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