Today, Dalian iron ore futures pulled back from highs, with the most-traded contract I2509 closing at 812, down 0.61% for the day. Traders' willingness to sell was average. Steel mills purchased as needed. The market transaction sentiment weakened. In the Shandong region,

[Domestic Iron Ore Brief Review: Iron Ore Concentrates Prices in West Liaoning May Face Weakening Risks] Prices of domestically produced iron ore concentrates in west Liaoning have slightly increased by 10-20 yuan/mt. The ex-factory price for 66% grade wet-based iron ore concentrates, excluding tax, ranges from 700-710 yuan/mt. The overall rebound in the local area has been weaker than expected, with the price spread between Tangshan's iron ore concentrates and local prices widening to 50-60 yuan/mt. Currently, mines and beneficiation plants are mostly operating as planned, but there is a strong wait-and-see sentiment regarding shipments.

According to the SMM survey, as of July 23, the operating rate of blast furnaces at 242 steel mills surveyed by SMM was 86.90%, down 0.11 percentage point WoW.

The "anti-rat race" policy continues to stimulate a rebound in the commodity market.  

Today, the iron ore futures continued their strong upward trend, with the most-traded contract I2509 surging to 835.5 in the afternoon before pulling back to close at 823, marking a daily gain of 2.49%.

[Domestic iron ore brief review: Iron ore concentrate prices in Tangshan area may continue to rise] Prices of iron ore concentrates in the Tangshan region have risen slightly, with the delivery-to-factory price (dry basis, tax included) for 66% grade ore at 920-930 yuan/mt. As the external market rises, mines and beneficiation plants have shown a clear tendency to demand higher prices, and the wait-and-see sentiment is relatively evident. Currently, hot metal production from blast furnaces at steel mills remains at a high level.