Today， DCE iron ore futures were in the doldrums today. The most-traded contract, I2605, finally closed at 811 yuan/mt, down 0.12% from the previous trading session. Spot prices fell by about 2-5 yuan from the previous trading day. Traders were moderately ac ve in offering quota ons, while steel mills purchased as needed. Overall transac ons in the spot market were limited. According to SMM sta s cs, the daily average hot metal produc on of the 242 sampled steel enterprises reached 2.3894 million mt this week, an increase of 38,000 mt WoW, and is expected to rise to 2.4089 million mt next week. As blast furnaces previously under maintenance gradually resumed produc on, rigid demand for iron ore improved somewhat. However, as spot prices remained at rela vely high levels, steel mills’ inquiry ac vity and purchase willingness were suppressed, and the decline in trading volume limited the upward momentum of ore prices to some extent. Looking ahead to future market trends, port supply is expected to adjust this weekend, with a rela vely no ceable impact on the supply side of iron ore. Therefore, ore prices are expected to con nue fluctua ng at high levels in the short term un l new informa on or factors emerge in the market and drive prices to form a clear trend.

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Source: Metals Market Index (MMI)