Iron Ore Futures Remain Weak and Pay Future Attention to Demand and Macro Policy

SHANGHAI, Mar 1 (SMM) - Iron ore futures prices remained weak yesterday, with the most-traded 2305 iron ore contract closing down 0.78% at 888.5 yuan/mt. Traders were less active in delivery while steel mills purchased cautiously, hence the market transactions were average. The transaction prices of PB fines in Shandong were mainly 891-895 yuan/mt, which was 1-10 yuan/mt lower than the previous day, while the PB fines in Tangshan were sold at 893-905 yuan/mt, down 1-10 yuan/mt

Recently, due to the impact of environmental protection and production restrictions in Hebei, the demand for iron ore has declined. In the short term, prices of iron ore are mainly affected by the demand for finished products and macro policy. Iron ore prices are expected to decline today.