Iron Ore Futures Decline Despite Opening Higher, Amid Mixed Market Dynamics

Publicado: Nov 28, 2024 16:59
The iron ore futures moved downwards after a higher opening today, with the most-traded contract I2501 finally closing at 786.5 yuan/mt, maintaining stable operation throughout the day. The market trading atmosphere was generally average today. Transaction prices fell by 0-5 yuan/mt compared to yesterday's prices. News of production control by a certain steel mill circulated in the market, leading to expectations of weakened iron ore demand, which suppressed ore prices to run at low levels. Given that some steel mills have already started stockpiling for the Chinese New Year, the forward spot market remained active, providing some support for iron ore prices. It is expected that iron ore prices may strengthen again after a short-term consolidation...

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

Para cualquier consulta o para obtener más información, por favor contacte: lemonzhao@smm.cn
Para más información sobre cómo acceder a nuestros informes de investigación, contacte con:service.en@smm.cn
The iron ore futures moved downwards after a higher opening today, wit - Shanghai Metals Market (SMM)