Iron ore futures held near CNY 805 per ton on Friday and were on track for a weekly gain as demand for the key steelmaking input showed signs of improvement. Industry data from China indicated that hot metal output, a gauge of iron ore consumption, exceeded 2.4 million tons this week, while blast furnace capacity utilization climbed above 90%. Restocking ahead of the National Day holiday also supported the ferrous market, alongside seasonal demand from infrastructure projects. Still, rising overseas shipments and a recovery in domestic supply could cap further gains. In addition, sentiment was dampened by a lack of policy support, as the People’s Bank of China kept a key rate unchanged and showed little urgency to ease monetary settings.
Manage Consent
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.