The phenomenon of oversupply will continue, and iron ore prices will continue to be under pressure
2024-06-19 15:12:54
Golden Ten Futures, June 19, according to SMM research, this week's blast furnace operating rate was 91.98%, the same as last week, the blast furnace capacity utilization rate was 93.32%, the week-on-week ratio decreased by 0.07pct, the average daily molten iron output of sample steel mills was 249.78, and the week-on-week ratio decreased by 1,800 tons. At present, the macro data is relatively deserted, the confidence of market players is insufficient, and the sentiment is more bearish. In addition, the crude steel control policies have been implemented in various places, and the characteristics of the market off-season are obvious. The output of molten iron may peak again. Therefore, in the case of loose iron ore supply, the phenomenon of oversupply may continue, and the price of iron ore may continue to be under pressure. Operation, wait and see for the time being.
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