The quality of iron ore futures is low. According to relevant data, iron ore refers to the ore with economic value and iron element, and is the raw material for steel production. The physical form of iron ore can be divided into raw ore, lump ore, fine ore and concentrate. Iron content division, iron ore is divided into low-grade ore, medium-grade ore and high-grade ore. Iron ore brands are divided into three categories: Yandi powder, ultra-special powder, Jinbuba powder, PB powder, Mike powder and Newman powder. The delivery standard of iron ore futures in Dashang Institute is above 58%, and the fine ore that meets the standard trace elements meets the delivery standard. The cheapest is superfine powder and gold without changing powder. Futures face the corresponding spot target is super special powder and gold does not change powder.