MMi Daily Iron Ore Index Report February 22 2024

DCE iron ore futures fall today，but the decline has narrowed somewhat. the main contract I2405 closed 893.5. an decrease of 1.49% throughout the day; Traders ship according to market conditions; Inquiries from steel mills have increased, with a focus on on-demand procurement. Today the overall market transaction atmosphere is acceptable. PBF at Shandong port dealt 930-935 yuan/mt; decreased 10 yuan/mt over yesterday. PBF at Tangshan port dealt 940- 945 yuan/mt; decreased 5 yuan/mt over yesterday. Based on the inventory data of the top ten main port iron ore varieties tracked by SMM, the port inventory showed an accumulated state this week. Mainly because during the spring break, steel mills purchase less goods and demand weakens; Coarse powder, fine powder, lump ore, and pellets all.

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Source: Metals Market Index (MMi)