Description
The Futures Closing Price (Main) for Iron Ore is reported by various financial exchanges such as the Chicago Mercantile Exchange (CME) and the Dalian Commodity Exchange (DCE). This indicator is used to gauge the market sentiment and future price expectations for iron ore, an essential raw material in steel production. A higher closing price typically indicates increased demand or reduced supply, while a lower price suggests decreased demand or increased supply. The price movements are crucial for stakeholders in the steel and construction industries.
The closing price is the last price at which the iron ore futures contract is traded on a given trading day. It is determined by the market participants through the buying and selling of futures contracts. The main futures contract refers to the most actively traded contract, usually the one closest to expiration.
The futures closing prices are updated daily at the end of each trading session, reflecting the most recent market conditions.