Telah Terbit: Dec 29, 2023 18:03
【SMM Iron Ore Weekly Report】Looking ahead to next week, the trading volume of US dollar-denominated iron ore has increased slightly due to year-end production increases at mines and pre-holiday stockpiling by some steel mills, while overseas shipping volumes remain high. It is expected that the volume of iron ore arriving at ports will continue to grow. Although port inventories continue to accumulate on a month-on-month basis, they remain relatively low compared to the same period last year. Considering that the bulk of the pre-holiday stockpiling by steel mills will begin next week, there may be a noticeable increase in iron ore demand, providing strong support for spot prices at ports. Furthermore, some steel mills are operating at a loss and the valuation of iron ore is relatively high, which on one hand suppresses demand for iron ore and on the other hand increases regulatory risks. It is expected that iron ore prices next week may still have the potential for a rise, with a more volatile trend.

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