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MMi Daily Iron Ore Index Report April 25 2022

DCE iron ore futures market falling sharply trends,an decrease of 10.73% throughout the day; the main contract closed 794.5. the quotation in the morning was few. some traders didn’t sell, The steel mills tended to be wait-and-see, and purchasing enthusiasm is not high. total transactions is poor. PBF at Shandong port dealt 920-925 yuan/mt; decreased 15-20 yuan/mt over yesterday. SSF at Shandong port dealt 674-680 yuan/mt; decreased 15-20 yuan/mt over yesterday. PBF at Tangshan port dealt 920 yuan/mt; decreased 20 yuan/mt over yesterday. SSF at Tangshan port dealt 680 yuan/mt; SMM analysis, DCE iron ore diving mainly by the repeated impact of COVlD-19 across the country, the market is expected to be strong to weak, superimposed coarse steel capacity reduction message fermentation, the overall mood of the market is poor. But according to SMM research, although the overall profit of blast furnace steel mills has been facing losses, production enthusiasm has weakened, but there is no plan to further reduce production, iron ore demand is relatively stable, because of the epidemic before stacking inventory has been low, replenishment before May Day is imperative. So SMM thinks this week iron ore demand has a small increase, give the mine price certain support.

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Source: Metals Market Index (MMi)

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