Summary of SMM Steel Morning Meeting: News Drives Iron Ore and Steel Strongly Upward, Finished Steel Market Slightly Upward.

Yesterday, iron ore futures rose sharply in the afternoon, and the main contract I2401 finally closed at 805.5, up 4.47% for the day. Some traders' quotations were still firm, steel mills' wait-and-see sentiment increased, and purchasing willingness weakened again. Yesterday, the overall market turnover atmosphere was general. PB powder transaction prices in Shandong area were concentrated at 873-900 yuan/ton, up 3-30 yuan/ton from the previous day.