MMi Daily Iron Ore Index Report December 16 2021

DCE iron ore futures rose largely today, the main contract closed 673. an increase of 2.75% throughout the day; some traders were active to sell, and steel mills purchased on demand. The spot trading volumes increased significantly over yesterday. PBF at Shandong port dealt 735-740 yuan/mt, increased 10-20 yuan/mt over yesterday; SSF at Shandong port dealt 470-475yuan/mt, increased 10 yuan/mt over yesterday;PBF at Tangshan port dealt 730-745 yuan/mt; PBF at Jiangnei port dealt 770 yuan/mt; According to SMM research, this week’s blast furnace operating rate was 77.42%, up 0.45% week on month, down 2.07% month on month. Tangshan area early plan lifted on 11 production restrictions extended to 16, only high grade steel enterprises have resumed production; And this week in the sample of some steel enterprises for conventional blast furnace maintenance, this week the overall blast furnace operation rate rose by a small margin. At present, the production of hot iron is still in a low position, the demand for iron ore has not improved temporarily, and the price of ore is still running in shock.

Source: Metals Market Index (MMi)