MMi Daily Iron Ore Report (October 27)

Today, the Dalian iron ore futures strengthened, with the most-traded contract I2601 closing at 786.5 yuan, up 1.94% from the previous trading day. Main port spot prices rose 10-15 yuan/mt compared to the previous trading day, with PB fines transaction prices in the Shandong region at 785-790 yuan/mt, up 10 yuan/mt, and those in the Hebei region at 795-802 yuan/mt, up 10-12 yuan/mt from the previous trading day. Steel mills procured based on demand, while traders followed market trends, resulting in an overall subdued trading atmosphere.