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FX.co ★ Iron Ore Slips on Signs of Robust Supply

Iron Ore Slips on Signs of Robust Supply

Iron ore futures fell to approximately CNY 810 per ton on Thursday, retreating from five-month peak levels due to evidence of robust global supply. June saw a record-breaking volume of shipments from Australia's principal bulk-export terminal. Concurrently, Fortescue Metals set a new record for Q4 deliveries, fulfilling the upper range of its annual projections. In Brazil, Vale produced 83.6 million tons of iron ore during the second quarter, marking its highest output for this period since 2021. Despite these supply pressures, the market remains buoyed by expectations of new stimulus measures from China, the leading consumer. Market sentiment was further improved as Beijing initiated a CNY 1.2 trillion hydropower initiative, which is expected to increase demand for construction materials such as steel and concrete.

*L'analyse de marché présentée est de nature informative et n'est pas une incitation à effectuer une transaction
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