Iron Ore Futures Decline with Weak Trading Sentiment

Publicado: Dec 18, 2024 16:41
Today, iron ore futures fluctuated downward. The most-traded I2505 contract finally closed at 778.5, down 2.63% throughout the day. Traders showed weak willingness to sell, while steel mills were cautiously observing, with purchase willingness slightly increasing. Market transactions were average today, and transaction prices fell by 10-15 yuan/mt compared to yesterday. This week, iron ore demand declined again. According to an SMM survey, as of December 18, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 85.47%, down 0.76 percentage points WoW. The capacity utilisation rate of blast furnaces was 87.01%, down 0.56 percentage points WoW. The daily pig iron production of the sample steel mills was 2.3476 million mt, down 15,000 mt WoW. In the short term, this trend is expected to continue, with pig iron production likely to see a slight decline in the near future...

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Today, iron ore futures fluctuated downward. The most-traded I2505 con - Shanghai Metals Market (SMM)