en.Wedoany.com Report on Mar 28th, Iron ore futures on China's Dalian Commodity Exchange gradually declined after a slight rise in early trading today. The main contract I2605 ultimately closed at 812 yuan per ton, down 0.49% from the previous trading day. Spot market prices also fell, dropping by approximately 2 to 5 yuan per ton. Traders' quoting enthusiasm was moderate, with steel mills procuring mainly based on demand, resulting in generally light overall spot market trading.

Fundamental data shows that, according to the latest SMM survey, iron ore inventory at the 35 major ports across the country saw a slight decrease this week, with total inventory falling by 610,000 tons to 155.78 million tons, a decrease of 0.39%. Meanwhile, port withdrawals increased by 110,000 tons month-on-month, reaching 2.855 million tons. Although support for iron ore prices has strengthened as steel mills' hot metal production recovers at a faster pace, risks on the supply side still exist. Disruptions to transportation due to weather factors have weakened, and iron ore shipments from the Middle East are arriving at ports, potentially increasing market supply. Overall, the upward pressure on iron ore prices has not significantly eased. Against the backdrop of gradually solidifying support at lower levels, prices are expected to maintain a high-volatility pattern in the short term.