Black trades entered inventory pressure testing, iron ore moved towards seven consecutive weeks of decline, marking the most brutal downturn cycle since 2022.

According to the All Wisdom Financial APP, the trading price of iron ore is moving towards a continuous seven-week weekly level decline- if it closes down for seven consecutive weeks by the end of Friday, this will be the worst continuous decline trend since 2022. Analysts believe that the core reasons behind this are the seasonal weakening of iron ore demand and the narrowing of steel mill profit margins. On Friday, steel raw material futures trading in Singapore fell sharply to $96.95 per ton, the lowest intraday level since February. Since the beginning of this week, the price of iron ore futures has fallen by 1.5%, and the contract price is expected to record a continuous two-month decline.