Steel Market Plunges 2.58%, Iron Ore Prices Expected to Fluctuate Low Amid Weak Demand Outlook

게시됨: Sep 5, 2024 17:24
Today, the steel market continued to decline sharply, with the main contract I2501 closing at 678.5, marking a full-day decline of 2.58%. Some traders closed their positions and refrained from trading. Steel mills purchased on an as-needed basis. Trading sentiment in the market today was relatively average. Transaction prices dropped by 10 yuan/ton compared to yesterday; the apparent demand for the five major steel products released today remained almost unchanged, failing to meet expectations for a rebound in demand, while supply increased. This has deepened market concerns about future demand declines, further deteriorating market sentiment. In the short term, market sentiment appears overly pessimistic, and fundamentals have yet to show significant improvement. It is expected that iron ore prices will fluctuate at a low level...

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