Today, the DCE iron ore futures rebounded slightly today, with the most-traded contract I2605 closing at 752.5 yuan/mt, up 1.42% from the previous trading day. Spot prices rose by 5–10 yuan/mt compared to the previous trading day. Traders showed moderate shipment enthusiasm, while steel mills had moderate inquiries but generally weak purchase willingness. Overall market trading ac vity remained sluggish. According to an SMM survey, as of February 25, the blast furnace opera ng rate across 242 steel mills tracked by SMM stood at 87.19%, up 0.23 percentage points from the pre-holiday period. Daily average hot metal output at the sampled mills reached 2.3937 million mt, an increase of 7,700 mt from before the holiday. This week, although unplanned blast furnace incidents caused temporary shutdowns at some mills, the impact was short-lived. Overall hot metal produc on con nued to grow, providing some support to ore prices. In addi on, the approaching Two Sessions, coupled with increasing news related to the real estate sector, boosted market senment, driving ore prices higher in line with industry trends. However, considering that environmental protec on-driven produc on restric ons in north China during the Two Sessions maysuppress iron ore demand, upward momentum for ore prices faces significant resistance, and prices are likely to fluctuate rangebound in the short term.

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Source: Metals Market Index (MMI)