The weakness of the iron ore market continued today, with the main con

Published: Jun 4, 2024 17:11

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The weakness of the iron ore market continued today, with the main contract closing at 834, down 2.11% from the previous day. The overall market sentiment was quiet today, with transaction prices down 10 yuan per ton from the previous day. According to SMM statistics, the impact of blast furnace maintenance on molten iron production this week (June 1-7) was 1.0117 million tons, a decrease of 63,100 tons compared with the previous week. There is still a slight increase expected in molten iron production. However, recently, the macroeconomic sentiment has worsened, and the market's expectation of demand in the off-season has deviated, leading to a negative feedback loop and continuous falls in iron ore prices.

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