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Iron ore slightly increases on Jun 18, expected to have slightly volatile trend in short term

19 Jun 2024 17:12 reported by Stanley Wang

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Australia's iron ore 62% Fe, CFR China grew on June 18, slightly increased by US$0.95 to US$106.2. The Chinese port's iron ore arrival volume declined, and the downstream companies were more willing to replenish it. Also, the increase in molten iron production and the strengthening of steel prices have driven the rise of iron ore.

However, the overall inventory of China's ports is still at a relatively high level in recent years, and its steel demand continues to weaken due to bad weather; market participants expect that iron ore will have a slightly volatile trend in the short term.

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