Today, Dalian iron ore futures held up well, with the most-traded contract rolling over to the I2601 contract, closing at 789, up 1.94% for the day. Traders actively sold off their inventory, while steel mills adopted a wait-and-see approach, with moderate purchase willingness. The market transaction atmosphere was average. In the Shandong region, the mainstream transaction prices of PB fines were around 775-780 yuan/mt, up 5-10 yuan/mt from last Friday. In the Tangshan region, the transaction prices of PB fines were around 790-795 yuan/mt, also up 5- 10 yuan/mt from last Friday. Last week, SMM’s global iron ore shipment volume totaled 31.12 million mt, down slightly by 2.38 million mt MoM. However, China’s total iron ore port arrivals reached 28.73 million mt, rebounding significantly by 6.17 million mt MoM, an increase of over 27%. As the impact of weather conditions wanes, iron ore port arrivals have increased significantly this week, but this aligns with market expectations, resulting in limited.

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Source: Metals Market Index (MMI)