terça-feira, 22 de abril de 2025
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Mais
    InícioNotíciasIron ore price retreats on China’s cloudy outlook

    Iron ore price retreats on China’s cloudy outlook

    Publicado em

    Iron ore prices retreated Tuesday as the market weighed a coming seasonal pick-up in Chinese demand against the prospect of a broadly weakening economy and more curbs on steel output.

    According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $153.67 a tonne, down 1.9% from Monday’s closing. In China, iron ore closed 3.2% lower, while steel futures also retreated.

    The raw material had been regaining some ground after a collapse in July, with China’s upcoming fall construction season suggesting higher demand.

    China’s economic activity weakened more than expected in August as an outbreak of the delta virus variant curbed consumer spending and travel.

    Iron ore also faces headwinds as China wants to rein in output, and production curbs to reduce emissions are expected to intensify in Q4.

    Even if seasonal demand is expected to emerge soon, “it’s hard to change the weak outlook for the medium- and long-term given the overall guidance to lower crude steel production,” Zhongzhou Futures wrote.

    Earlier this week, Baoshan Iron & Steel Co., the listed unit of China’s biggest producer, flagged the potential for renewed price declines in iron ore.

    “We expect China’s steel curtailments to be targeted in 4Q when demand slows seasonally and air pollution is in focus (especially ahead of the Winter Olympics in Feb-22) and as a result we expect prices to stabilise in Sept/Oct before continuing to fall back below $100/tonne in 2022,” UBS analysts wrote in a recent note.

    Fonte: Bloomberg

    São Paulo
    nuvens quebradas
    16.6 ° C
    17.5 °
    16.2 °
    88 %
    3.1kmh
    75 %
    ter
    23 °
    qua
    24 °
    qui
    26 °
    sex
    21 °
    sáb
    22 °

    Notícias recentes

    Newmont (NYSE:NEM) Becomes Fourth Most Valuable Mining Company After $850 Million in Asset Sales

    (adsbygoogle = window.adsbygoogle || ).push({}); Newmont (NYSE:NEM) has jumped to the number four...

    Conheça a Rota Estrada Cênica da Cordilheira do Espinhaço

    Iniciativa lançada pela Anglo American, Governo de Minas e municípios visa interligar atrativos naturais,...

    The Mechanics of Silver Price Suppression

    (adsbygoogle = window.adsbygoogle || ).push({}); Many precious metals investors have heard about silver...

    leia mais

    Newmont (NYSE:NEM) Becomes Fourth Most Valuable Mining Company After $850 Million in Asset Sales

    (adsbygoogle = window.adsbygoogle || ).push({}); Newmont (NYSE:NEM) has jumped to the number four...

    Conheça a Rota Estrada Cênica da Cordilheira do Espinhaço

    Iniciativa lançada pela Anglo American, Governo de Minas e municípios visa interligar atrativos naturais,...

    The Mechanics of Silver Price Suppression

    (adsbygoogle = window.adsbygoogle || ).push({}); Many precious metals investors have heard about silver...