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Today, Dalian iron ore futures fluctuated repeatedly, with the most-traded I2505 contract closing at 769, down 0.71% for the day. Traders remained less motivated to sell, while steel mills mainly purchased as needed, resulting in a sluggish market atmosphere. In Shandong, mainstream transaction prices for PB fines were around 771-774 yuan/mt, down 1-5 yuan from the previous trading day; in Tangshan, transaction prices for PB fines were around 775-780 yuan/mt, also down 1-5 yuan from the previous trading day. This week, global iron ore shipments totaled 34.28 million mt (down 7.5% WoW), while arrivals totaled 16.85 million mt (down 22.61% WoW). Recently, tightening iron ore supply has provided some support for prices; however, considering that no policies exceeding expectations have been introduced during key meetings, overall market confidence remains weak. In the short term, iron ore prices are expected to fluctuate with a stable and weak trend. 【SMM Steel】
