Iron Ore Futures Edge Up Amid Moderate Transactions

Publicado: Dec 24, 2024 16:30
The iron ore futures rose slightly during the late trading session today. The most-traded I2505 contract closed at 783 yuan/mt, up 1.29% for the day. Traders sold goods based on market trends, while steel mills remained cautious and purchased as needed. Market transactions were moderate today. Mainstream transaction prices increased by 0-5 yuan/mt compared to yesterday. 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 MoM. The capacity utilisation rate of blast furnaces was 87.01%, down 0.56 percentage points MoM. Daily pig iron production at the sampled steel mills decreased by 15,000 mt MoM. This afternoon, the National Financial Work Conference concluded, and CCTV's interpretation of the meeting highlighted a more proactive fiscal policy, which supported a slight increase in iron ore prices. ......

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