Iron Ore Prices Initially Spike but Decline, Outlook Weak for Late December Rebound

Publicado: Dec 20, 2024 14:41
[SMM Brief Analysis: Iron Ore Prices Jump Initially and Then Pull Back, Unlikely to Rebound in Late December] After the conclusion of two important meetings, market sentiment gradually weakened. Meanwhile, environmental protection-driven production restrictions in Hebei tightened, leading to blast furnace shutdowns and maintenance at several steel mills in Handan, Shijiazhuang, Cangzhou, and other areas. Additionally, as the year-end approaches, some steel mills have started implementing their annual maintenance plans. These factors have significantly reduced pig iron production, dragging iron ore prices down from highs to around 770. This situation of supply surplus and weak demand is expected to persist. SMM believes that iron ore prices are unlikely to rebound in late December and are expected to continue fluctuating downward within the current range, with some downside room remaining...

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

Para cualquier consulta o para obtener más información, por favor contacte: lemonzhao@smm.cn
Para más información sobre cómo acceder a nuestros informes de investigación, contacte con:service.en@smm.cn