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MMi Daily Iron Ore Index Report April 14 2022

DCE iron ore futures continued to fluctuate by 0.11% in a day, some traders negotiation pattern is more flexible,Market wait-and-see sentiment increased,total transactions is poor. PBF at Shandong port dealt 975-995 yuan/mt; decreased 5 yuan/mt over yesterday. SSF at Shandong port dealt 715 yuan/mt; decreased 10 yuan/mt over yesterday. PBF at Tangshan port dealt 1005 yuan/mt; increased 5 yuan/mt over yesterday. SSF at Tangshan port dealt 730-740 yuan/mt. increased 5 yuan/mt over yesterday. This week, SMM counted blast furnace operating rate at 82.39 percent, up 0.44 percentage point from the previous week, mainly due to the resumption of production of some blast furnaces suspended due to the outbreak. According to SMM research, as of April 13, a total of 28 blast furnaces in China have been suspended due to the epidemic, of which 15 have resumed production, with an average daily output of 57,000 tons of hot iron, while 13 are still suspended, with an average daily output of 52,500 tons of hot iron. In the short term, hot metal production has increased, give a certain support for ore prices.

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Source: Metals Market Index (MMi)

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