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Today, DCE iron ore futures moved downwards after a higher opening, fluctuating throughout the day. The most-traded I2505 contract finally closed at 801.5 yuan/mt, up 0.44% for the day. Traders followed the market trend to sell, while steel mill inquiries decreased. The market saw sluggish transactions today. In Shandong, mainstream transaction prices for PB fines were around 790 yuan/mt, basically stable compared to yesterday; in Tangshan, transaction prices for PB fines were around 810-815 yuan/mt, also basically stable compared to yesterday. Industry data released today showed that apparent demand for rebar and HRC both pulled back, while total inventory growth expanded. Overall performance was mediocre, exerting some influence on the price trends of ferrous products. However, from the perspective of iron ore fundamentals, fluctuations were relatively small, maintaining an upward fluctuation pattern. In the short term, as spot trading approaches its end, market transactions are becoming increasingly sluggish, with futures market movements primarily rangebound.

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