Iron Ore Market Fluctuates with Slight Closing Gain; Prices Expected to Remain Volatile

게시됨: Nov 12, 2024 17:17
Today, the iron ore market experienced repeated fluctuations, with a slight uptick towards the closing session. The main contract I2501 eventually closed at 766, marking a daily increase of 0.26%. Traders demonstrated a reasonable willingness to offload their inventories; however, steel mills' purchasing intentions weakened compared to yesterday. Market trading activity was generally moderate today. Transaction prices rose by 5-10 yuan/ton compared to yesterday. From the fundamentals of iron ore, supply decreased while demand increased, providing some support to prices. Moreover, in the absence of disproving short-term policy expectations, sentiment is expected to return to rationality after venting. It is anticipated that iron ore prices will continue to fluctuate in the short term...

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