SMM Iron and Steel Morning Meeting Minutes: Raw material prices stable, weak trading in the market

On Friday, LME Iron was relatively strong and fluctuated, with the main contract I2405 eventually closing at 957. The increase was 2.63% throughout the day. The enthusiasm of traders for shipments was average. Steel mills were cautious and mainly focused on essential purchases, with overall market trading atmosphere being average. In the Shandong region, the transaction price of PB powder was between 1000-1012 yuan/ton, an increase of 10 yuan/ton from the previous day; in the Tangshan region, the transaction price of PB powder was 1010 yuan/ton, unchanged from the previous day.