MMi Daily Iron Ore Index Report February 16 2022
DCE iron ore futures continued to drop today, an decrease of 1.10% throughout the day; the main contract closed 720. The spot quotation in the morning was steady, afternoon upward. Some steel mills tended to be wait-and-see. Total transactions improved significantly. PBF at Shandong port dealt 850-870 yuan/mt, increased 5-25 yuan/mt over yesterday; SSF at Shandong port dealt 520-530 yuan/mt, increased 15-25 yuan/mt over yesterday. PBF at Tangshan port dealt 845-860 yuan/mt, increased 0-25 yuan/mt over yesterday; The National Development and Reform Commission (NDRC) held the first “warning and warning session”, although it did not make specific guidance policies, but the future of procurement, sales, inventory and other data supervision will be further tightened. Iron ore speculation or will significantly reduce the iron ore market back to the fundamentals. At present, the northern production limit policy is still continuing, short-term iron ore demand is weak, the price of ore pressure shock operation.
Source: Metals Market Index (MMi)