Today, Dalian iron ore futures fluctuated rangebound, with the most-traded contract I2509 closing at 811, down 0.55% for the day. Traders sold goods according to market conditions. Steel mills purchased as needed. The market transaction atmosphere was average. The mainstream transaction prices of PB fines in the Shandong region were around 785-788 yuan/mt, down 0-3 yuan/mt from yesterday’s prices; the transac- tion prices of PB fines in the Tangshan region were around 800-805 yuan/mt, basically stable compared to yesterday’s prices. Recently, market sentiment has eased somewhat, and futures prices have been consolidating. From the industrial data perspective, apparent demand remained high this week; inventory decreased slightly during the off-season, still providing support for ferrous varieties. In the short term, the market fundamentals held up well. Attention should be paid to the impact of the content of important meetings on market sentiment.

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Source: Metals Market Index (MMI)