Industry News

Improved steel transactions & Chinese Yuan rebound cause iron ore slight increase on Nov 13

Views : 141
Update time : 2024-11-14 20:02:28
Australia's iron ore 62% Fe, CFR China, on November 13, slightly increased by US$0.25 to US$101.25. Despite a reversal in China's ferrous metal futures following a sharp rise, spot steel prices showed a slight increase after a slowdown in their previous decline, accompanied by improved transaction volumes. Additionally, the Chinese Yuan's rebound from its previous dip helped boost iron ore prices, leading to a small recovery.

However, China's molten iron production continues to decrease, and with the macroeconomic environment entering a new phase, iron ore is returning to its fundamental supply-demand dynamics, characterized by strong supply and weak demand. While steel mills are maintaining support for steel prices, market participants anticipate that iron ore prices will experience minor fluctuations in the short term.
Related News
Read More >>
POSCO opens Australian R&D lab for green steel & batteries POSCO opens Australian R&D lab for green steel & batteries
Jun .10.2025
POSCO opens Australian R&D lab for green steel & batteries
Metro Mining reports 26% y-o-y hike in May bauxite shipments Metro Mining reports 26% y-o-y hike in May bauxite shipments
Jun .10.2025
Metro Mining reports 26% y-o-y hike in May bauxite shipments
Brazil’s pig iron exports fall by 26% in May Brazil’s pig iron exports fall by 26% in May
Jun .10.2025
Brazil’s pig iron exports fall by 26% in May
China's unwrought aluminum and aluminum product exports see m-o-m rise in May China's unwrought aluminum and aluminum product exports see m-o-m rise in May
Jun .10.2025
China's unwrought aluminum and aluminum product exports see m-o-m rise in May