Iron Ore Prices Fluctuate Downwards, But Fundamentals Remain Stable Ahead

게시됨: Dec 6, 2024 16:47
Today, iron ore fluctuated downward throughout the day, with the most-traded contract I2501 closing at 797.5 yuan/mt, down 0.93% for the day. Traders showed moderate willingness to sell; steel mills remained cautious, with some planning tenders. Market sentiment was subdued today. In Shandong, mainstream transaction prices for PB fines were 780-785 yuan/mt, down 0-5 yuan/mt from yesterday; in Tangshan, transaction prices for PB fines were 795-800 yuan/mt, down 5-10 yuan/mt from yesterday. Looking ahead to next week, the fundamentals of iron ore are expected to remain stable. The main price drivers will be the impact of two important meetings on market sentiment. Next week, market expectations are likely to remain positive, and iron ore prices may fluctuate upward.

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