Today, DCE iron ore futures continued to rally, breaking through the 770 level and reaching a high of 772. After a brief pullback in the afternoon, prices rebounded again. The most-traded contract I2509 eventually closed at 767, with a daily increase of 0.13%. Traders sold goods according to market conditions. Steel mills purchased as needed. The market transaction atmosphere was moderate. In the Shandong region, the mainstream transaction prices of PB fines were around 750-754 yuan/mt, up 5 yuan/mt from yesterday’s high; in the Tangshan region, the transaction price of PB fines was around 765 yuan/mt, remaining stable compared to yesterday’s price.

From the latest data released by the National Bureau of Statistics today, the economic situation in Q2 was positive, boosting market confidence. The futures market rallied to a new high in nearly three months. However, in the afternoon, the content of the 2025 Urban Work Conference was leaked, which was lower than market expectations. The futures market weakened slightly. Currently, the overall market expectation is

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Source: Metals Market Index (MMI)