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MMi Daily Iron Ore Index Report December 29 2021

DCE iron ore futures tight, an decrease only 1.92% throughout the day; the main contract closed 663. the quotation in the morning was decreased by 10 yuan/mt over yesterday. some traders were active to sell, steel mills purchased on demand, Today the overall market transaction atmosphere is batter. PBF at Shandong port dealt 760-790 yuan/mt, decreased 5-30 yuan/mt over yesterday; SSF at Shandong port dealt 455-470 yuan/mt, decreased 10-30 yuan/mt over yesterday; PBF at Tanshan port dealt 780 yuan/mt; PBF at Jiangnei port dealt 800 yuan/ mt. SMM analysis, recently affected by weather factors, building materials demand weakening, stacking winter storage is not as expected, directly affecting steel production, part of the blast furnace delay resumption, iron ore procurement demand is not as expected. On the other hand, close to the Winter Olympics, Tangshan environmental protection again strict, market worries have increased. In the short term iron ore prices continue to run shock.

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Source: Metals Market Index (MMi)

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