Iron Ore Futures Decline Significantly; Market Sentiment Sluggish

Publicado: Dec 27, 2024 17:06
Iron ore futures saw a significant decline today. The most-traded I2505 contract closed at 759.5 yuan/mt, down 2.63% from yesterday. Market trading sentiment was sluggish today. Transaction prices dropped by 10-15 yuan/mt compared to yesterday. As of December 27, according to SMM monitoring data, total inventory at 35 ports stood at 144.99 million mt, down 860,000 mt WoW but up 28.15 million mt YoY. The daily average port pick-up volume of imported ore was 3.127 million mt, down 4,000 mt MoM and up 270,000 mt YoY. Based on SMM's current tracking, pig iron production from steel mills' blast furnaces may continue to decline, and port pick-up volumes may also decrease, leading to a slight accumulation in port inventory. ......

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