Dalian Iron Ore Futures Fluctuate Upwards Amid Market Rumors and Weak Fundamentals

Publicado: Dec 3, 2024 16:45
Today, Dalian iron ore futures continued to fluctuate upward, with the most-traded I2501 contract closing at 813.5 yuan/mt, up 1.5% for the day. Traders were actively selling, and speculative transactions slightly increased; steel mills were cautious in their inquiries, primarily purchasing as needed. The market trading atmosphere was generally average today. Transaction prices rose by 5 yuan/mt compared to yesterday. The fundamentals are weakening. However, there were market rumors today that the Central Economic Conference will be held around mid-month and will set economic targets for 2025. Market expectations are strong, driving ore prices to continue fluctuating upward, and this pattern is expected to persist in the short term...

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