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MMi Daily Iron Ore Index Report January 04 2022

Jan 4th, 2022 CFR Qingdao, USD/dry tonne DCE iron ore open lower and go higher, the main contract closed 689, an increase of 2.23% throughout the day. the quotation in the morning was increased by 0-10 yuan/mt from last Friday. Some steel mills tended to be wait-and-see, and the port spot enquiries were more today, but the transaction is general. PBF at Shandong port dealt 800-805 yuan/mt, increased 0-5 yuan/mt from last friday; SSF at Shandong port dealt 485 -495 yuan/mt, increased 0-5 yuan/mt from last friday; PBF at Tanshan port dealt 810 yuan/mt; increased 2-10 yuan/mt from last friday; PBF at Jiangnei port dealt 830 yuan/mt; SMM analysis, in addition to the beijing-Tianjin-Hebei and surrounding areas of the implementation of off- peak heating season production, some steel mills did not according to the original plan to resume production, other areas have blast furnace production. Superimposed some steel mills before the Spring Festival replenishment demand, iron ore demand this week is still incremental, give strong support to ore prices, in the short term, iron ore prices may continue to be strong shock.

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Source: Metals Market Index (MMi)

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