MMi Daily Iron Ore Report (March 31)

Today, iron ore futures continued to decline weakly. The most-traded contract I2505 closed at 773, down 1.47% for the day. Traders' willingness to sell was poor, steel mills remained cautious and mainly observed, and purchase willingness was moderate. The market transaction atmosphere was relatively flat. In Shandong, the mainstream transaction prices for PB fines were around 773-775 yuan/mt, down 10 yuan/mt WoW.