Publicado: Jul 26, 2024 16:57
Today, the iron ore price halted its decline and rebounded, with the main contract closing at 779, up 1.5% for the day. Traders promptly unloaded their goods; steel mills were cautious and held a wait-and-see attitude, with weak purchasing intentions. Overall, the market trading atmosphere was bleak today. Transaction prices increased by 10-15 yuan/ton compared to yesterday; the decline in iron ore prices prompted steel mills to replenish their low inventories, driving up port unloading volumes. This indicates that the demand for iron ore remains robust, offering certain support to iron ore prices. Additionally, the pessimistic sentiment in the market has been somewhat digested within the week, leading to the rebound in iron ore prices. However, as end-user demand remains in the off-season, it is expected that although iron ore prices may rebound next week, the rebound height will be limited, with low-level volatility being the dominant trend...

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Today, the iron ore price halted its decline and rebounded, with the m - Shanghai Metals Market (SMM)