Today, DCE iron ore prices trended stronger, with the most-traded contract I2605 closing at 761 yuan, up 1.06% from the previous working day. Spot prices rose 3–5 yuan/mt from the previous day. Traders sold at market prices; steel mills purchased as needed, with inquiry volume moderate. Market trading sentiment was neutral. According to SMM statistics, this week’s hot metal production affected by blast furnace maintenance was 1.8735 million mt, an increase of 134,600 mt WoW. Due to environmental protection-driven production restrictions in Hebei, blast furnace operations faced constraints, leading to an overall decline in iron ore demand. Fundamentals remained bearish. Additionally, ports recently began charging corresponding port fees and storage fees to different types of cargo owners. This move is expected to raise costs for some imported ore, thereby providing botiom support for prices of specific ore varieties. Overall, iron ore prices are expected to mainly fluctuate within a range in the short term.

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Source: Metals Market Index (MMI)