Today, Dalian iron ore futures held up well, with the most-traded contract rolling over to the I2601 contract, closing at 789, up 1.94% for the day. Traders actively sold off their inventory, while steel mills adopted a wait-and-see approach, with moderate purchase willingness.

Last Friday, China's steel export prices surged by $4-10/mt. In the Thai market, import prices for cold-based galvanizing, hot-based galvanizing, and industrial wire rods also increased, with a WoW rise of $5-30/mt. The main reason for the steel price hikes was that the steel varieties circulating in these local Thai markets were mostly from Chinese resources. Therefore, as domestic prices in China surged rapidly, import prices in Thailand also adjusted accordingly. However, according to the SMM survey, although some adjustments in guidance prices stemmed from the significant surge in domestic prices in China, in terms of transaction volumes in the Thai market, the situation was relatively mediocre, with most transaction prices remaining low.

[Domestic iron ore brief review: Iron ore concentrate prices in Shandong region may continue to fluctuate] This week, the price of 64-grade alkaline iron ore concentrates (dry basis, pre-tax, acceptance payment) from mines and beneficiation plants in Shandong region was reported at 830, up by 6. Steel mills also raised their prices simultaneously. Most miners maintained normal production, and steel mills' long-term agreement purchases were relatively stable. Small mills and traders mainly followed the market trend, with overall transactions being moderate. However, looking ahead, the cost-effectiveness of local iron ore concentrates remains relatively weak compared to imported ore.

Today, Dalian iron ore futures continued to be in the doldrums, with the most-traded contract I2509 closing at 790, down 0.19% for the day. Traders sold goods according to market conditions.

According to the SMM survey, the large-caliber inventory of HRC in Ningbo was 299,900 mt (as of August 8) this week, with a WoW increase of 45,200 mt. This week, HRC prices first rose and then fell. The weekly increase in spot prices ranged from 10 to 30 yuan/mt. The market trading atmosphere was moderate, and downstream end-users' purchase willingness was average. By the afternoon close on August 8, the most-traded hrc2510 futures contract closed at 3,428 yuan/mt.