SMM Iron Ore Weekly: Supply Ample, Demand Weak, Prices Expected to Decline Volatily

Publicado: Dec 20, 2024 17:30
[SMM Iron Ore Weekly Report] Looking ahead to next week, with the year-end approaching, some overseas mines may ramp up shipments. Coupled with previous increases in dollar-denominated orders by domestic steel mills, overseas shipments are expected to have room for slight growth. However, due to the impact of earlier shipment reductions, port arrivals may decline. Overall supply remains relatively ample, and port inventory may increase. On the demand side, according to SMM's blast furnace maintenance data, some steel mills are still planning blast furnace maintenance next week. Additionally, the Wu'an region may carry out the second round of furnace shutdowns, leading to a further decline in pig iron production. Given the increasingly evident off-season characteristics, industry data may show mediocre performance, and iron ore prices are expected to continue a volatile downward trend next week...

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[SMM Iron Ore Weekly Report] Looking ahead to next week, with the year - Shanghai Metals Market (SMM)