MMi Daily Iron Ore Index Report April 14 2021
DCE iron ore futures fluctuated narrowly today, and the physical port quotation by traders was basically stable compared to yesterday. But some traders are positive on later market price, they tend to give less bargain space and even increase their quotation by 5yuan/mt daytime. PBF dealt as 1150-1160yuan/mt at Shandong port today, an increase of 5-15yuan/mt from yesterday. Due to the limited production in Tangshan, the market atmosphere still need time to promote; however, some steel mills choose to purchase at Tianjin Port. Recently, the profit of steel mills continues to improve, and traders are optimistic about the market price, and the port transaction prices are expected to fluctuate strongly recently. In addition, the current price difference between low and medium-Fe iron ore has increased by about 33 yuan/mt from the middle of last month to 212 yuan/mt. Supported by the profit of steel mills, the demand for mainstream medium and high-Fe iron ore remains popular, and the low-grade ore market still more difficult to get better.
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