Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
✔️ China’s steel output cuts create uncertainty for iron ore demand.
✔️ Seasonal construction demand offsets downward pressure on prices.
✔️ Traders watch China’s economic policies for further market direction.
Iron ore prices remained rangebound as traders weighed the impact of China's steel production curbs against the seasonal rise in steel demand. The world’s top steel producer has been enforcing stricter output limits to curb emissions, which has led to uncertainty in raw material demand.
Market analysts suggest that while China’s measures to reduce steel production may weaken iron ore consumption, seasonal construction activity is expected to keep demand stable. This balance has kept iron ore prices fluctuating within a narrow range, with limited volatility in global markets.
Additionally, traders are closely monitoring Beijing’s economic stimulus efforts and infrastructure spending, which could provide a boost to steel consumption. However, concerns over slower industrial activity and potential disruptions in China’s property sector continue to weigh on investor sentiment.
On the global front, supply from major iron ore exporters such as Australia and Brazil remains steady, preventing any major supply shocks. Meanwhile, rising shipping costs and currency fluctuations have added another layer of complexity to price movements.
Also Read : Iron Ore Extends Monthly Losses on China Steel Output Cut Fears Foreign automakers raise exports as China sales remain weak
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