Fundamentals Of Iron Ore Are Still Bearish

This week, there is still some room for a seasonal growth in overseas supply, but demand will continue to weaken. The fundamentals of iron ore are still bearish. However, the current price spread between the DCE front-month and next-month iron ore contracts is relatively large and will continue to shrink in the future.

And DCE iron ore prices stand close to iron ore cost. As such, the downside room will be limited. It is expected that the iron ore prices will consolidate at lows this week.

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