Market Sentiment Recovers as Iron Ore Prices Continue to Fluctuate Upward [SMM Brief Commentary]

After opening, Dalian iron ore fluctuated upward. The most-traded I2505 contract finally closed at 783 yuan/mt, up 2.22% for the day. Traders showed a good willingness to sell. Steel mills were cautious in procurement, with strong wait-and-see sentiment. Today's market transaction atmosphere was average. In Shandong, mainstream transaction prices for PB fines were at 780-785 yuan/mt, up 10-15 yuan/mt from yesterday; in Tangshan, transaction prices for PB fines were around 800-805 yuan/mt, also up 10-15 yuan/mt from yesterday. Macro news increased today, and market sentiment continued to recover. Iron ore followed the upward fluctuation of black commodities. In the short term, iron ore demand, supported by pre-holiday restocking, remained strong. It may continue to fluctuate upward in the near term...