Iron Ore Futures Fluctuate Slightly, Impact of Blast Furnace Maintenance Rises

Today, iron ore futures rose initially but fell later, with the most-traded I2505 contract closing at 796.5, up 0.06% for the day. Market transactions were moderate today, and transaction prices remained stable compared to yesterday.

In Handan, Hebei, most blast furnaces at steel mills affected by environmental protection-driven production restrictions have resumed operations. However, as the year-end approaches, annual maintenance plans have increased. This week, the impact from blast furnace maintenance surveyed by SMM amounted to 1.8448 million mt, up 221,300 mt WoW. More blast furnace maintenance is expected next week, with the estimated impact at 1.897 million mt, though the WoW increase is narrowing. The reduction in pig iron output has led to a decline in overall demand for iron ore, and iron ore prices are expected to remain stable with a weak trend in the short term.