SMM Iron and Steel Morning Meeting Minutes: Iron Ore Futures Plunge Significantly, Finished Product Prices Weakly Fluctuate

Yesterday, the trend of iron turned from strong to weak, and the main contract I2401 plunged in the afternoon, ending at 976.5, with a daily decline of 0.86%. The enthusiasm of traders for shipment is average, and some traders do not ship temporarily due to losses. The purchasing enthusiasm of steel mills has increased, mainly purchasing at low prices. The market transaction atmosphere is still good. In Shandong, the transaction price of PB powder is 995 yuan/ton, a decrease of 10-15 yuan/ton compared to the previous day. In Tangshan, the transaction price of PB powder is 1000-1005 yuan/ton, a decrease of 10-15 yuan/ton compared to the previous day.