SMM Steel Morning News: Central Bank's Reserve Requirement Ratio Cut is Good News, Spot Market Bullish Expectations Strengthen

Yesterday, the iron ore continued to trade in a relatively strong and volatile manner, with the main contract I2405 ultimately closing at 979, up 1.77% for the day. Traders followed the market in making shipments while steel mills made just-in-time purchases, resulting in a generally average overall market atmosphere. In the Shandong region, the transaction price for PB powder was 1024 yuan/ton, an increase of 7-8 yuan/ton from the previous day; in the Tangshan region, the transaction price for PB powder was 1035-1040 yuan/ton, a 0-5 yuan/ton increase from the previous day. There has been little change in the fundamentals of the iron ore market recently.