For steel products: Prices maintained a volatile trend, with sentiment in the spot market weakening somewhat, and there may still be resistance on the upside. In terms of trading volume, 237 major steel traders recorded a construction steel trading volume of 102,700 tons, a month-on-month decrease of 7.1%, showing a renewed decline in transactions. On the macro front, the Federal Reserve announced at its interest rate meeting on Wednesday that it would lower the target range for the federal funds rate to 4.00%-4.25%, a 25-basis-point cut. Additionally, the latest dot plot indicates that the Fed expects to cut interest rates twice more within this year (25 basis points each time). Short-term market positives may have already been priced in, and the market will face an overall correction in the follow-up.

Conclusion: Steel products may experience a "rise followed by a fall" trend; the main rebar contract is expected to trade between 3,100-3,150 today, and the main hot-rolled coil contract between 3,340-3,400.

For iron ore: Yesterday, the truck-mounted price of 61.5% PB fines at Qingdao Port was 797 yuan/wet ton (unchanged), with iron ore prices remaining stable. In terms of transactions, the total trading volume of iron ore at major domestic ports reached 1.265 million tons, a month-on-month decrease of 9.3%. However, the daily trading volume of iron ore has stayed above 1.2 million tons recently, reflecting strong demand and driving iron ore prices to continue their strong performance. According to Mysteel’s statistics, the average tax-included cost of billets at major sample steel mills in Tangshan was 2,991 yuan/ton, unchanged from the previous week. Compared with the ex-factory price of plain carbon billets (3,060 yuan/ton on September 17), steel mills achieved an average profit of 69 yuan/ton. As steel mills’ profitability improves again, it will also provide some positive support for iron ore demand, and iron ore is likely to maintain a strong trend in the follow-up.

Conclusion: Iron ore will fluctuate with a bullish bias in the short term; the main contract is expected to trade between 800-815 today.

https://m-q-news.wenhua.com.cn/newshare/#/share/20250918000168?ver=7.4.3