The iron ore futures market today showed a weak start followed by a strong finish. The most-traded contract I2605 closed at 819.5, down 0.24% from the previous trading day. Spot prices fell by 0–5 yuan/mt compared to the previous trading day. Traders showed a moderate willingness to sell, while steel mills made just-in-time procurement, resulting in an overall moderate trading atmosphere. According to SMM steel data, the impact from maintenance on blast furnaces this week reached 2.035 million mt, up 36,200 mt WoW. Recent maintenance arrangements at some steel mills’ blast furnaces led to a decline in hot metal production. However, as pre-holiday restocking demand gradually released, overall iron ore demand remained relatively stable, though its support for short-term prices was limited. Ore prices are expected to maintain a sideways movement.

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Source: Metals Market Index (MMI)