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MMi Daily Iron Ore Index Report January 10 2022

DCE iron ore futures market falling trends,the main contract closed 699.5,an decrease of 2.03% throughout the day; The spot quotation in the morning almost kept steady. The market overall wait-and-see sentiment heavier. total transactions remained insipid. PBF at Shandong port dealt 815 yuan/mt, decreased 0-10 yuan/mt from last Friday; PBF at Tangshan port dealt 820-825 yuan/mt; SSF at Tangshan port dealt 510 yuan/mt, decreased 5 yuan/mt from last Friday; Recently, Tangshan, Hebei province, and other places lifted the second-level alert for heavy pollution as a new cold wave hit. Some blast furnaces resumed production. But Tianjin epidemic aggravation, causing market concern. Drag up the mine price. SMM believes that steel mills have not completed the replenishment before the Spring Festival, iron ore demand is still incremental, it is expected that in the short term, the price will still shock operation.

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Source: Metals Market Index (MMi)

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