Reduced shipments and increased hot metal output buoyed iron ore prices. However, long-term demand faces pressure from Chinese steel stagnation and looming supply from Simandou.
Analysts foresee a balanced iron ore market in 2025, but warn that trade tensions and shifting Chinese policies could undermine demand and price stability.
Prices are trading above short-term moving averages, suggesting ongoing upside momentum, while the MACD above its signal line confirms the prevailing bullish trend.
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