According to different physical forms, iron ore can be divided into raw ore, lump ore, fine ore, concentrate, sinter and pellet. Lump ore is a high-grade ore that can be directly put into the furnace; Powder ore and concentrate can only be put into blast furnace after artificial briquetting, in which powder ore is the main raw material for sinter production and concentrate is the main raw material for pellet production. Based on the demand of spot market, the target of iron ore futures trading is fine ore.