Industrial Data Performs Moderately, Iron Ore Prices Hold Up Well [SMM Brief Review]

Today, iron ore futures continued to hold up well, with the most-traded contract I2601 closing at 799.5, up 0.44% from the previous trading day. Traders actively sold goods; steel mills cautiously waited and their purchase willingness declined. The market transaction atmosphere was moderate. In Shandong, PB fines traded at 795-800 yuan, up 2-5 yuan/mt from yesterday; in Hebei, PB fines traded at 802-809 yuan/mt, up 0-5 yuan/mt from yesterday. Industry data today showed that although the apparent demand for the five major steel products slightly decreased, total inventory continued to decline amid rising production, indicating resilience in end-use demand and a very low probability of negative feedback. Market sentiment was relatively positive, driving ore prices to stabilize and rebound, breaking through the 800 mark. However, with ore prices at high levels, the market remained cautious. Without other drivers, ore prices still face a risk of correction.