Rebar Demand Rebound Boosts Sentiment, Iron Ore Prices Hold Up Well [SMM Brief Comment]

Published: Aug 28, 2025 17:02

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Today, the most-traded iron ore futures contract turned from weak to strong, with the I2601 contract closing at 790.5, a 1.74% increase from yesterday. Traders' willingness to sell was moderate; steel mills showed a stronger wait-and-see sentiment and purchased as needed, while some mills with better finished product sales actively restocked. The market transaction atmosphere was moderate. In Shandong, mainstream transaction prices for PB fines were in the range of 780-785 yuan/mt, up 10-15 yuan/mt from yesterday; in Tangshan, PB fines transaction prices were around 790-795 yuan/mt, also up 10-15 yuan/mt from yesterday.

Today's industry data showed that overall steel production increased, but the growth in iron ore supply was limited. Additionally, rebar apparent demand saw a slight improvement. Market sentiment was optimistic, providing some support to ore prices. However, with production restrictions in the north set to be enforced next week, overall iron ore demand is still weakening marginally, and iron ore prices will continue to face pressure in the short term.

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