Iron Out Futures Prices Remain Volatile

SHANGHAI, Mar 9 (SMM) - Iron ore futures prices remained volatile yesterday, with the most-traded 2305 iron ore contract closing down 0.83% at 912 yuan/mt. Traders were less active in delivery while steel mills were wait-and-see, hence the market trading atmosphere was average. Traded price of PB fines in Shandong was 918-920 yuan/mt, up 1-4 yuan/mt from the previous trading day, and that of PB fines in Tangshan stood at 930-935 yuan/mt, up 2 yuan/mt.

As of today, according to SMM research, the operating rate of blast furnaces has remained stable and the capacity utilisation rate of blast furnaces has increased. The average daily pig iron output of steel mills has increased slightly. The profits of blast furnace steel mills have recovered, and the enthusiasm for production has been supported to a certain extent.