Today, DCE fluctuates down. The most traded i2505 contract closed at 832.5 yuan/mt, down 0.77% for that day. Traders show a moderate will to sell, while steel factory remains careful, with some restocking as needed. Average market transaction sentiment. In Shandong, the main transaction price for PB fines is 823-825 Yuan/MT, down 5-10 Yuan/MT from last Friday; In Tangshan, the PB fine was traded around 835-838 Yuan/MT, also down 5-10 Yuan/MT from last Friday. According to SMM delivery data, the delivery of global iron ore amounted to 26.93 million MT, up 8.7% WOW. Among them, Australian shipping was 13.34 million MT, up 1.5% WOW, while Brazil’s delivery was 6.72 million MT, up significantly by 33.4% WOW. SMM data also shows that the arrival of Chinese iron ore amounted to 24.61 million MT, up 5.8% WOW. Both delivery and arrival increase simultaneously, showing the recovery of the supply of iron ore, which weakens support for the price of ore. In addition, the market rumors about slowing GDP growth in 2025 market sentiments were slightly muffled. In the short term, the basis of iron ore remains stable. With two sessions getting closer, market expectations remain, significantly affect the price of ore.
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Source: Metal Market Index (MMI)
