Iron Ore Futures Fluctuate Upwards Amid Increased Selling Willingness and Australia Cyclone News

Publicado: Jan 16, 2025 17:22
Today, iron ore futures fluctuated upward. The most-traded I2505 contract closed at 797 yuan/mt, up 1.92% for the day. Traders showed an increased willingness to sell. Steel mills remained cautious, purchasing as needed. The market's transaction atmosphere was average today. Transaction prices rose by 10 yuan/mt compared to yesterday. Industry data released today showed strong performance in HRC, with apparent demand seeing significant growth during the off-season, corroborated by robust HRC export orders. Coupled with continuous macro news recently, there was additional news in the afternoon about a cyclone in Australia affecting shipments from major mines in the region, which drove iron ore prices higher toward the close. Considering...

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