Dalian Iron Ore Prices Fluctuate Upwards, Outlook Shows Rangebound Movement Next Week

Today, Dalian iron ore fluctuated upward throughout the day. The most-traded I2505 contract finally closed at 753.5 yuan/mt, with a daily increase of 0.53%. Traders showed moderate enthusiasm for selling, while steel mills reduced their inquiries. The market transaction atmosphere was average today. In Shandong, mainstream transaction prices for PB fines were at 760-765 yuan/mt, up by 0-5 yuan/mt compared to yesterday; in Tangshan, transaction prices for PB fines were at 775-780 yuan/mt, also up by 0-5 yuan/mt compared to yesterday.

Looking ahead to next week, considering the continued increase in pig iron production from steel mills' blast furnaces, port pick-up volume is expected to rise further, and port inventory is likely to see a slight decline. This is expected to provide some support to ore prices, with iron ore prices anticipated to fluctuate rangebound next week. ......