The DCE iron ore futures shifted from weak to strong today, with the most-traded contract I2609 closing at 786.5 yuan/mt, up 0.77% from the previous trading price. Port spot prices rose by 3-5 yuan accordingly.

Iron ore futures shifted from weak to strong today, with the most-traded contract I2609 closing at 786.5 yuan/mt, up 0.77% from the previous trading price. Port spot prices rose by 3-5 yuan accordingly. Traders actively quoted and sold; steel mills showed increasing wait-and-see sentiment, mainly purchasing as needed; overall market trading activity was moderate. The transaction price of PB fines at Shandong ports was 755 yuan/mt. The transaction price of PB fines at Caofeidian port was 765 yuan/mt. According to SMM's data on blast furnace impact from maintenance, production resumptions at large blast furnaces this week were expected to drive hot metal production further up, providing some support for ore prices. However, the increase in hot metal production also boosted steel output, and with end-use demand already weakening, steel inventory pressure was set to rise, making it harder for prices to rise. Therefore, iron ore prices were expected to be under pressure, with increasing short-term upside resistance and limited upside room.

The DCE iron ore futures moved sideways today, with the most-traded contract I2609 closing at 781 yuan/mt, down 0.19% from the previous trading session. Port spot prices edged down 0-3 yuan from the previous day.

[China Iron Ore Brief Review] This week, the pre-tax ex-factory price of 64-grade alkaline concentrates (dry basis) at mines and beneficiation plants in Shandong was reported at 868, down 12. Local mines and beneficiation plants mostly maintained normal production as planned, but overall iron ore concentrates resources remained relatively tight. However, most miners had certain inventory levels and were able to maintain shipments, making it difficult for overall supply and demand to see significant changes. Steel mills were relatively cautious in their current procurement, mainly purchasing as needed, and overall market transactions were relatively sluggish. Recently, iron ore futures showed relatively volatile trends. Influenced by this, local iron ore concentrates prices are expected to

Iron ore futures moved sideways today, with the most-traded contract I2609 closing at 781 yuan/mt, down 0.19% from the previous trading session. Port spot prices edged down 0-3 yuan from the previous day. Traders offered prices in line with the market; steel mills remained cautious and on the sidelines, purchasing as needed; overall market trading atmosphere was sluggish. The transaction price of PB fines at Shandong ports was 751 yuan/mt. The transaction price of PB fines at Caofeidian port was 760 yuan/mt, and that of Jimblebar fines was 723 yuan/mt. According to SMM shipping data last week, global iron ore shipments continued to grow, up 3.65% WoW, though the growth rate had narrowed; meanwhile, port arrivals rebounded significantly, up 11% WoW. Entering June, some mines are expected to ramp up shipments to meet fiscal year or quarterly targets, and iron ore shipments still have room for further growth, with supply pressure continuing to rise. Demand side, although hot metal production still had some incremental growth, considering weakening steel mill profits and gradually softening end-use demand, the upside for hot metal output is limited, and port inventory is expected to continue accumulating. Overall, iron ore prices are under pressure and may maintain a sideways pattern in the short term.

The DCE iron ore futures market strengthened in a volatile manner today, with the main contract I2609 ultimately closing at 783.5 RMB/ton, up 0.45% from the previous trading session. Port spot prices rose slightly by 3-5 RMB/ton compared to yesterday.