Market Sentiment Optimistic: Iron Ore Prices Shift from Weak to Strong [SMM Commentary]

Published: Feb 18, 2025 17:05

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Today, iron ore futures shifted from weak to strong. The most-traded I2505 contract ultimately closed at 818 yuan/mt, with a daily increase of 2.51%. Traders were actively selling, while steel mills exhibited heightened wait-and-see sentiment, with weaker purchase willingness. The market transaction atmosphere was average. Transaction prices rose by 5-10 yuan/mt compared to yesterday. This week's pig iron production is estimated to have slightly increased. Coupled with the gradual recovery of end-use demand, steel mill finished product orders performed well, boosting market sentiment and driving a slight rise in ferrous metals series prices. Moving forward, close attention should be paid to changes in industry data...

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Today, DCE iron ore futures turned from weak to strong. The most-traded I2505 contract finally closed at 818, up 2.51% for the day. Traders were active in selling, while steel mills showed increased wait-and-see sentiment with weaker purchase willingness. Market transaction atmosphere was average. In Shandong, mainstream transaction prices for PB fines were 810-815 yuan/mt, up 5-10 yuan/mt from yesterday; in Tangshan, PB fines transaction prices were around 820-825 yuan/mt, also up 5-10 yuan/mt from yesterday.
According to SMM statistics, this week (February 15-21), the impact from blast furnace maintenance on pig iron production was 1.6141 million mt, down 32,200 mt WoW. Pig iron production this week was estimated to increase slightly. Coupled with the gradual recovery of end-use demand, steel mill finished product orders performed well, boosting market sentiment and driving a slight rise in ferrous metals series prices. Future attention should focus on changes in industry data.

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