In the evening session this Friday (10), the most traded contract of iron ore in Dalian Exchange (DCE) The market closed with a moderate drop of 2.5%, at 753.5 yuan per ton. In this trading session, prices were pressured by increased shipments of the commodity from Australia and Brazil. Industry data indicates that volumes grew by more than 30% compared to the previous week, reaching 24.48 million tons on April 7th, following improved weather conditions. On the demand side, the market projects a slowdown in iron ore consumption throughout the year, reflecting the prolonged crisis in China's real estate sector, the main driver of steel demand. Reduced margins for steel mills have also limited the appetite for the raw material, reinforcing the negative bias for prices. In addition, high inventories at Chinese ports continue to reduce prices, increasing the perception of oversupply in the short term.
This text was translated by machine from Brazilian Portuguese.