Today, iron ore futures fluctuated repeatedly. The most-traded contract I2505 finally closed at 780, with a daily increase of 0.45%. Traders sold goods based on market trends, while steel mills purchased as needed, with slightly increased inquiries. The market transaction atmosphere was average. Mainstream transaction prices rose by 5-10 yuan/mt compared to yesterday. The apparent demand for the five major steel products continued to increase, and total inventory continued to decline, remaining relatively low YoY. This provided some support for various black series products. Although there were still disruptions from news related to crude steel production cuts during the session, market sentiment remained indifferent. In the short term, there is no imbalance in the industry, and the fundamentals of iron ore are supportive. If no substantial policies on crude steel production cuts are introduced, iron ore prices still have the potential to break upward.

Today, iron ore fluctuated repeatedly. The most-traded contract I2505 finally closed at 780, with a daily increase of 0.45%. Traders sold goods based on market conditions, while steel mills purchased as needed, with slightly increased inquiries. The market transaction atmosphere was average. Mainstream transaction prices rose by 5-10 yuan/mt compared to yesterday. The apparent demand for the five major steel products continued to increase, and total inventory continued to decline, remaining relatively low YoY. This provided some support for various black series products. Although there were still disruptions from news related to crude steel production cuts during the session, market sentiment remained indifferent. In the short term, there is no imbalance in the industry, and the fundamentals of iron ore are supported. If no substantial policies on crude steel production cuts are introduced, iron ore prices still have the potential to break upward.

After opening, Dalian iron ore fluctuated upward. The most-traded I2505 contract finally closed at 783 yuan/mt, up 2.22% for the day. Traders showed a good willingness to sell. Steel mills were cautious in procurement, with strong wait-and-see sentiment. Today's market transaction atmosphere was average. In Shandong, mainstream transaction prices for PB fines were at 780-785 yuan/mt, up 10-15 yuan/mt from yesterday; in Tangshan, transaction prices for PB fines were around 800-805 yuan/mt, also up 10-15 yuan/mt from yesterday. Macro news increased today, and market sentiment continued to recover. Iron ore followed the upward fluctuation of black commodities. In the short term, iron ore demand, supported by pre-holiday restocking, remained strong. It may continue to fluctuate upward in the near term...

Metals market: As of midday close, the base metals in the domestic market were generally lower. Shanghai lead and Shanghai zinc rose slightly, and the increase was within 0.5%. Shanghai copper, Shanghai aluminum, and Shanghai nickel all fell, and the decline was within 0.6% (inclusive).

SMM, April 20: Metal market: Overnight, base metals rose across the board, with Shanghai tin up 5.48% and Shanghai nickel up 3.85%. Shanghai copper rose 1.39%, the highest intraday rose to 80,170 yuan / ton, a new high since May 2006. Shanghai aluminum rose 0.47%, and Shanghai zinc rose 0.88%. Shanghai lead rose 1.22%. Alumina fell 1.19%. 》

The U.S. dollar rebounded, causing basic metals to generally fall. Domestic basic metals fell, with Shanghai copper and nickel rising but alumina and other metals falling. LME metals were mostly green, with nickel falling in London. Lithium carbonate rose to a new high, while industrial silicon fell. The black series rose, with coking coal, coke, iron ore, and other metals rising. Shanghai gold rose but Shanghai silver fell, while COMEX gold and silver fell. The European liner freight main contract rose. There have been no major changes in the supply and demand pattern of domestic alumina before the holiday, but the operating rate has rebounded slightly. For lithium carbonate, the recovery progress on the supply side is slow, causing market concerns.