MMi Daily Iron Ore Index Report February 21 2022
DCE iron ore futures open lower and go higher, the main contract closed 707. an increase of 4.74% throughout the day. the quotation in the morning was increased by 20 yuan/mt from last Friday. and increased 20 yuan again in the afternoon. some traders quotation is stronger, steel mills purchased on demand, total transactions is poor. PBF at Shandong port dealt 840-860 yuan/mt, increased 0-20 yuan/mt from last Friday; SSF at Shandong port dealt 533-538 yuan/mt, increased 20-30 yuan/mt from last Friday. PBF at Tangshan port dealt 850-855 yuan/mt, increased 5-10 yuan/mt from last Friday; With the official closing of the Winter Olympic Games, Tangshan lifted the “air quality assurance measures in key periods” today. In the next two days, about 9 blast furnaces will resume production one after another. Iron ore demand has improved, giving strong support to the ore price, but considering that there is still some pressure on the policy side, the iron ore price will maintain shock operation in the short term.
Source: Metals Market Index (MMi)