OS Future contracts Do Iron ore On Monday (24), according to the positive demand for the main component of manufacturing steel us China It has exceeded fears related to discounts in steel production.
The most negotiated iron ore on the Dalian goods exchange in China closed by 2.43 % to 779.5 iuanes ($ 107.45).
Reference iron ore for the month of April on the Singapore Stock Exchange by 2.29 % to $ 102.2 per ton.
“Production between independent steel producers in China has increased this week in response to the continuous recovery of the local steel demand,” said MySteel Consultance.
The average use rate of EAF factories for the sixth week in a row has increased to 54.9 % on Friday, the largest since June 2024, showing data from MySteel.
Galaxy Futures said that the production of hot metals, which is usually used to measure the demand for iron ore, increased significantly a month, while the demand for the manufactured steel remained high.
Meanwhile, at a business forum on Sunday, Chinese Prime Minister Lee Qiang asked countries to open its markets to combat “increased uncertainty and uncertainty”, while China is preparing for the new American definitions.
“Steel production has increasing difficulties due to customs tariffs and reducing capacity,” Anz analysts said in a statement.
At its parliamentary annual meeting earlier this month, China said it would restructure the giant steel industry through production cuts, but it did not announce any goal.
However, iron ore imports can remain resistant due to seasonal refueling.
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