On November 6th, due to the improvement in market sentiment, the price of iron ore rose slightly
On November 6th, the price of Australian iron ore rose slightly by 0.45 US dollars to 103.85 US dollars. China's ferrous metal futures market rebounded, with iron ore leading the gains. The prices of coking coal and coke rose sharply amid tight supply. Spot prices also strengthened. The transaction volume of rebar has increased significantly. Previously, it was reported that a large real estate developer began to acquire land, which helped improve market sentiment and drive up iron ore prices.
However, the profits of Chinese steel mills have narrowed significantly recently, and more steel mills are reducing production. Steel mills also only purchase as needed, and the quantity of iron ore arriving at the port has increased. Market insiders say that as supply remains abundant and demand remains weak, iron ore prices are expected to fluctuate in the near future.
However, the profits of Chinese steel mills have narrowed significantly recently, and more steel mills are reducing production. Steel mills also only purchase as needed, and the quantity of iron ore arriving at the port has increased. Market insiders say that as supply remains abundant and demand remains weak, iron ore prices are expected to fluctuate in the near future.
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