Today, iron ore prices hit a new low, with a weaker and volatile tradi

Published: Aug 12, 2024 16:42

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Today, iron ore prices hit a new low, with a weaker and volatile trading throughout the day. The main contract I2501 closed at 734, down 1.08% for the day. Traders were generally less enthusiastic about shipments; steel plants were cautious and observing the market, with some planning tenders. The overall market trading atmosphere was average today. The transaction price of PB powder in Shandong was 750-760 yuan/ton, down 10 yuan/ton from last Friday; the transaction price of PB powder in Tangshan was 770-775 yuan/ton, down 5-10 yuan/ton from last Friday. The supply of iron ore remains relatively loose. However, the number of blast furnace overhauls continued to increase this week, and the market estimated that there would be a further significant decrease in molten iron, suppressing iron ore prices. In the short term, iron ore prices lack upward momentum and are expected to continue to maintain a weaker and volatile trend...

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