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MMi Daily Iron Ore Index Report April 15 2021

DCE iron ore futures again performed strongly today, and physical port quotations increased by 20-30 yuan/mt from yesterday. Some steel mills continued to buy on their demand while some mills choose to slow down their purchasing speed due to the influence of Handan/Wuan’s production limitation rumors. But total deal atmosphere today was relatively good. PBF at Shandong port dealt as 1160-1185yuan/mt, an increase of 25-35 yuan/mt from yesterday. According to SMM port inventory data, recently concentrate ports have decreased for three weeks and domestic concentrate demand also improved. For example, one steel mills in Hebei province told that under the production limitation, they has increased domestic concentrate proportion from 5% to 30% to improve pig iron production. Also, driven by high profits by steel mills, they are still fond of buy high-Fe iron ore.

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Source: Metals Market Index (MMi)

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