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Today, DCE iron ore futures turned from weak to strong. The most-traded I2505 contract finally closed at 818, up 2.51% for the day. Traders were active in selling, while steel mills showed increased wait-and-see sentiment with weaker purchase willingness. Market transaction atmosphere was average. In Shandong, mainstream transaction prices for PB fines were 810-815 yuan/mt, up 5-10 yuan/mt from yesterday; in Tangshan, PB fines transaction prices were around 820-825 yuan/mt, also up 5-10 yuan/mt from yesterday.
According to SMM statistics, this week (February 15-21), the impact from blast furnace maintenance on pig iron production was 1.6141 million mt, down 32,200 mt WoW. Pig iron production this week was estimated to increase slightly. Coupled with the gradual recovery of end-use demand, steel mill finished product orders performed well, boosting market sentiment and driving a slight rise in ferrous metals series prices. Future attention should focus on changes in industry data.
