SMM

Today, iron ore fluctuated downward. The most-traded I2505 contract closed at 832.5 yuan/mt, down 0.77% for the day. Market transaction sentiment was average. Transaction prices fell by 5-10 yuan/mt WoW compared to last Friday. According to SMM shipping data, both shipments and arrivals increased simultaneously, leading to a recovery in iron ore supply and weakening support for ore prices. Additionally, market rumors about a slowdown in GDP growth in 2025 slightly dampened market sentiment. In the short term, the fundamentals of iron ore remain stable. With the Two Sessions approaching, market expectations persist, significantly impacting ore prices. Attention should be paid to macro news and end-use demand conditions.