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Home / Metal News / SMM daily review and forecast for iron ore

SMM daily review and forecast for iron ore

Jul 21, 2023 20:04

Iron ore market in Shandong swung in firmness.

Iron ore market in Shandong swung in firmness. Notwithstanding normal operation of leading mines, a ore supply crunch remained, and is unlikely to ease in a short term. Iron ore inventory stood low, and focus was put on long-term contracts. With low iron ore, steel mills hunted for spot iron ore. Tight supply kept offers for iron ore firm, while traders took a stance on procurement, and some purchased small quantities of high-priced ore to meet complete orders. Affected by imported iron ore, there was a certain room for iron ore prices in Shandong to hike.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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SMM daily review and forecast for iron ore

SMM Events & Webinars

2026 SMM (21th) Lead & Zinc Conference and Industry Expo

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