Contract Rollover in Progress, Iron Ore Up, Steel Sluggish—Patience is Key

Market Performance:
Yesterday, iron ore showed strength, while steel struggled to follow, and coking coal weakened further due to a relatively loose supply and weak fundamentals. This reflects the expected trends for mid-to-late December in the black series, with steel mills prioritizing iron ore for winter storage.

Market Outlook:
Before the mid-December Economic Work Conference, the chances of a significant market rally remain low. Without substantial policy incentives, the market is likely to maintain a “range-bound” or “slightly downward” trend.

Conclusion:
Patience remains essential—wait for clearer signals or opportunities at critical levels. Avoid aggressive positions during this period of limited movement.

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