Today, the iron price fell sharply, with the main contract finally clo

Published: Jul 23, 2024 16:35

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Today, the iron price fell sharply, with the main contract finally closing at 774.5, down 3.43% for the whole day. Some traders stopped trading; steel mills observed cautiously and mainly adopted the strategy of frequent small purchases. The overall market trading atmosphere today was average. The transaction price fell by 20-30 yuan/ton compared with yesterday. According to SMM statistics, this week (from July 20 to July 26), the amount of molten iron affected by blast furnace maintenance was 1.0885 million tons, an increase of 64,100 tons from the previous week. Due to the recent conversion of new and old national standards for steel bars, the market selling situation has worsened, and panic has intensified. It is expected that iron ore prices will mainly fluctuate weakly in the short term...

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