SunSirs: The Rise and Fall of Iron Ore Prices are Largely Dependent on Fundamentals

The latest price of iron ore (Australia) (3-27): 905.89 RMB/wet ton, the market outlook will fluctuate

Key points of analysis: As of midday on the 27th, the price of SunSir’s iron ore rose slightly compared with last Friday, an increase of 2.16%. As of the end of midday, even the iron rose 2.16%. The price of iron ore futures rose slightly, and the market speculative sentiment picked up. Steel traders have a strong willingness to raise prices, and iron ore prices have bottomed out and rebounded. On the supply side, overseas shipments increased slightly this week, overseas shipments resumed periodically, and the supply situation was relatively loose; on the demand side, after the concentrated release of demand for inventory replenishment in the early stage, the demand for steel products has weakened and market transactions have declined, so Steel mills' demand for iron ore replenishment has weakened, but the profits of steel mills have gradually recovered, and the inventory of steel mills is low, so the demand for replenishment still exists. The supply and demand side of iron ore has turned into a trend of strong supply and weak demand, which basically limits the price of ore. Market sentiment has improved, commodity prices have generally risen, and iron ore has also rebounded, but there are basically restrictions on the upward movement of ore prices.

Future market forecast: It is expected that short-term ore prices may rise first and then fall, fluctuating within a narrow range, and futures need to prevent the risk of increased short-term fluctuations.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com