Today, iron ore futures changed from strong to weak, with a significant decrease in the afternoon. The most traded The i2505 contract was finally closed at 810.5 yuan/mt, down 0.98% for that day. Traders sell goods based on market trends, while steel mill fills back as needed. Medium market transactions. In Shandong, the main transaction price for PB fines is at 800-805 Yuan/MT, up 0-3 Yuan/MT from yesterday; In Tangshan, the transaction price for PB fines is around 820-825 Yuan/MT, relatively stable compared to yesterday. During the weekend, the typhoon impact in Australia has temporarily ended, and the delivery of iron ore is expected to return to normal next week. Short -term supply support for iron ore has weakened, and loose supply patterns are expected to continue in the future. Considering the current high assessment, momentum and above short term is expected to remain weak, and the market can continue to fluctuate the Rangebound next week.
Download PDF
Source: Metal Market Index (MMI)
