Iron Ore Futures Fluctuate with Stable Prices; Pig Iron Production Growth Supports Prices

게시됨: Mar 11, 2025 16:48
Today, iron ore futures opened lower but closed higher, with the most-traded I2505 contract settling at 774.5, down 0.06% for the day. Traders showed moderate enthusiasm for selling; steel mills purchased as needed, with limited inquiries; and the market transaction atmosphere remained sluggish. Mainstream transaction prices were stable compared to yesterday. This week, the impact from blast furnace maintenance tracked by SMM was 1.5882 million mt, down 25,600 mt WoW. Pig iron production is expected to increase slightly, while next week's estimated impact from blast furnace maintenance is 138.74, down 200,800 mt WoW. Pig iron production has been growing continuously, with an expanding growth rate, providing support for ore prices. However, macro sentiment remains pessimistic, posing significant resistance to upward movement in ore prices. Attention should be paid to end-use demand; if the data performs well, it could drive a slight rebound in iron ore prices.

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Today, iron ore futures opened lower but closed higher, with the most- - Shanghai Metals Market (SMM)