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MMi Daily Iron Ore Index Report December 30 2021

DCE iron ore futures continued to fluctuate in a day, an increase only 0.98% throughout the day; the main contract closed 669.5. the quotation in the morning was increased by 5 yuan/mt over yesterday. some traders were active to sell, steel mills purchased on demand. today’s overall market transaction atmosphere in general. PBF at Shandong port dealt 780-795 yuan/mt, increased 0-25 yuan/mt over yesterday; SSF at Shandong port dealt 480 yuan/mt, increased 10-25 yuan/mt over yesterday; PBF at Tanshan port dealt 800-802 yuan/mt, increased 20-22 yuan/mt over yesterday; SMM statistics of blast furnace 79.34%, month-on-week continued to rise 1.99%, month-on-month up 2.43%. This week, the blast furnace operation rate picked up significantly. On the one hand, the production restrictions of southern steel enterprises have weakened, and many steel enterprises have resumed production of blast furnaces for a long time. On the other hand, central China and Eastern China have resumed production of blast furnaces for maintenance. Although restricted by the Winter Olympics and environmental protection factors, some blast furnaces in Handan and Tangshan of Hebei province are still delayed to resume production, but next week there will be blast furnaces in northeast, northwest, southwest, central and east China. Give mine price certain support, iron ore will still narrow shock.

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Source: Metals Market Index (MMi)

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