SMM

Today, iron ore futures surged significantly, with the most-traded contract I2509 closing at 727.5, marking a daily increase of 2.11%. Traders showed good enthusiasm for selling, while steel mills primarily purchased as needed. The market transaction atmosphere was moderate. In the Shandong region, the mainstream transaction price of PB fines was around 775 yuan/mt, up by 3-5 yuan/mt compared to yesterday. In the Tangshan region, the transaction price of PB fines was around 775-780 yuan/mt, down by 2-5 yuan/mt compared to yesterday.