Telah Terbit: Jul 17, 2024 17:08
Today, Lian Tie (a futures contract referring to iron ore) saw a sharp decline in the afternoon, with the main contract closing at 805, down 2.66% for the whole day. Some traders stopped trading; steel mills needed to replenish their inventories, and procurement enthusiasm increased slightly. Today's overall market trading atmosphere is acceptable. Transaction prices dropped by 5-20 yuan/ton compared to yesterday; on July 17, the blast furnace operating rate recorded by SMM was 94.16%, down 0.2% from the previous week. The blast furnace capacity utilization rate was 95.97%, down 0.41% from the previous week. The average daily output of molten iron from sample steel mills was 2.2995 million tons, down 5,000 tons from the previous week. The demand for iron ore continued to weaken. In addition, terminal data in the off-season showed a decline again; coupled with the absence of favorable policies during the important conference, market sentiment was rather pessimistic. Iron ore prices experienced a significant decline...

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