Iron Ore Futures Rebound to 774 Yuan on Seasonal Demand Hopes

Overview

• Dalian’s January contract rose 1.38% to 774 yuan on Nov. 12, extending a two-day advance.
• ANZ reports most maintenance is scheduled for late November and December, limiting near-term outages at Chinese mills.
• The rebound follows a drop to a multi-month intraday low of 756 yuan on Nov. 10 as port inventories rose and Hebei reimposed environmental output cuts.
• Mysteel says global shipments fell to a two-month low, helping to cushion recent price declines.
• Sentiment has also been influenced by softer producer price deflation, a return to positive consumer inflation in China, and a one-year suspension of certain port fees for U.S.-linked vessels.