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MMi Daily Iron Ore Index Report December 20 2022

DCE iron ore futures rose by 0.19% today, the main contract closed 804.5. The traders’ willingness to ship is less. The steel mills are wait and see.The overall trading sentiment of the market is worse. PBF at Shandong port dealt 806-808 yuan/mt; PBF at Tangshan port dealt 818 yuan/ mt,increase 3-4 yuan/mt. According to SMM statistics, the impact of blast furnace maintenance on molten iron this week was 179.63 tons, down 96400 tons month on month compared with last week. The impact of blast furnace maintenance on molten iron next week will rise slightly. According to the amount of iron water this week, the demand for iron ore may increase. At present, although the profits of steel plants have been repaired, most of them are at the edge of loss or profit and loss. The rhythm of steel plants’ winter storage is still dominated by slow replenishment on demand. However, considering the downturn of terminal demand and the disturbance of epidemic situation, the price of iron ore is still subject to wide fluctuations in the short term.

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Source: Metals Market Index (MMi)

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