On April 10, 2025, the iron ore market displayed positive momentum as DCE iron ore futures opened higher in the morning and maintained this upward trend throughout the day. The most-traded contract, I2509, closed at 707, marking an increase of 3.06%. This surge can be attributed to an increase in sellers’ willingness to transact, alongside steel mills purchasing according to their immediate needs.
Overall, the market atmosphere for transactions remained moderate. In Shandong, mainstream transaction prices for PB fines reached approximately 760 yuan per metric ton, reflecting a rise of 20 yuan per metric ton compared to the previous day. Similarly, in Tangshan, transaction prices for PB fines hovered between 770 to 775 yuan per metric ton, an increase of 20 to 25 yuan per metric ton from yesterday’s figures.
The recent announcement from the U.S. regarding a 90-day suspension of tariffs for countries that refrain from retaliation contributed to improved market sentiment. Despite industry data revealing a slight dip in apparent demand for hot-rolled coil (HRC) this week, total inventory levels continued to decrease, indicating no significant imbalance within the sector. This supported the prices of iron ore. With ongoing trade tensions and increasing expectations surrounding domestic policies, a tug-of-war between long and short positions persists.
As a result, it is anticipated that iron ore prices will experience volatility in the short term.