Market Transactions Sluggish, Iron Ore Prices Basically Stable [SMM Brief Review]

There was no futures guidance today. Traders' willingness to sell was moderate; steel mills had largely completed pre-holiday stockpiling, resulting in fewer inquiries today. Market transaction sentiment was sluggish. In the Shandong region, the mainstream transaction prices for old PB fines were around 780-783 yuan/mt, down 0-3 yuan/mt WoW; in the Tangshan region, PB fines transaction prices were 785-790 yuan/mt, down 0-5 yuan/mt WoW.

As the holiday approached, some traders had already entered holiday mode, slowing down their sales pace. Steel mills had also largely completed pre-holiday stockpiling, with some mills restocking in small quantities at low prices. Overall market trading activity declined significantly. Considering the increased market risk aversion sentiment and narrowing futures price fluctuations, spot prices are expected to remain stable before the holiday.