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MMi Daily Iron Ore Index Report April 11 2022

Apr 11th, 2022 CFR Qingdao, USD/dry tonne DCE iron ore futures market falling sharply trends,an decrease of 4.56% throughout the day; the main contract 2209 closed 868.5. the quotation in the morning was decreased by 20-30 yuan/mt from last Friday. Market wait-and-see sentiment increased. some traders quotation is still weaker. PBF at Shandong port dealt 970-990 yuan/mt; decreased 20-35 yuan/mt from last Friday. SSF at Shandong port dealt 695-710 yuan/mt; decreased 15-25 yuan/mt from last Friday. SSF at Tangshan port dealt 710 yuan/mt. decreased 30 yuan/mt from last Friday. Today, Tangshan began to unlock the whole area, the future steel mills because of traffic and logistics control caused by the shortage of raw materials or will ease. However, the aggravation of COVID-19 in Shanghai has affected production and transportation in East China and negatively affected the black market. In addition, the fifth round of coke tensile landing, will squeeze iron ore prices, short-term mine price shock operation.

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Source: Metals Market Index (MMi)

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