"SMM Steel Morning Meeting Minutes: Futures market falls from high levels, spot market trading remains decent

Yesterday saw a slight strong fluctuation, with the main contract I2401 ultimately closing at 978.5, with a daily increase of 1.93%. Some traders' offers remain relatively firm; steel mills are cautiously observing the need for replenishing stock. Today, the overall market has a quiet trading atmosphere. In Shandong, the transaction price of PB powder is 998 yuan/ton, an increase of 7 yuan/ton compared to the previous day. In Tangshan, the transaction price of PB powder is 1008-1010 yuan/ton, an increase of 10 yuan/ton compared to the previous day."