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MMi Daily Iron Ore Index Report February 23 2023

DCE iron ore futures declined by 0.49% today, the main contract closed 908.5.The traders’ willingness to ship is more.The steel millsare active to purchase .The overall trading sentiment of the market is better.PBF at Shandong port deal 913-917 yuan/mt;PBF at Tangshan port deal 919- 925 yuan/mt According to the inventory data of ten major ports tracked by SMM, the total inventory of major varieties increased slightly by 2.1% to 97.17 million tons on Thursday, of which the inventory of four major varieties increased to varying degrees. At present, the stock of raw materials in steel mills is low, and the price of iron ore has some support. However, the ore price is still affected by the information and terminal demand. In the future, we need to continue to pay attention to the macro information and terminal demand sustainability. It is expected that iron ore prices will fluctuate slightly in the short term.

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Source: Metals Market Index (MMi)

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