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MMi Daily Iron Ore Index Report December 06 2021

DCE iron ore futures tight ,the main contract 2205 closed 615.5, an increase of 1.57% throughout the day. the quotation in the morning was increased by 20 yuan/mt from last Friday. some traders were active to sell, and steel mills purchased still on demand. today’s overall market transaction atmosphere in general, PBF at Shandong port dealt 670 yuan/mt, increased 20 yuan/mt from last friday; SSF at Shandong port dealt 425, increased 5-10 yuan/mt from last friday;.PBF at Jiangnei port dealt 720 yuan/mt;SMM analysis, recently downstream steel profits, which led to a rise in iron ore demand. Coupled with the real estate credit policy may be marginal easing, market sentiment boosted, steel prices rose today, increased support for iron ore prices. However, considering this week tangshan area heavy pollution weather II warning, and import ore port inventory has accumulated 10 consecutive periods to 150 million tons of high level, iron ore prices continued to rise momentum is insufficient.

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Source: Metals Market Index (MMi)

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