MMi Daily Iron Ore Index Report January 12 2022
DCE iron ore futures continued to fluctuate in a day. an increase of 3.07% throughout the day. the main contract closed 737.5. Some traders negotiation pattern is more flexible. total transactions is batter. PBF at Shandong port dealt 835-845 yuan/mt, increased 10-20 yuan/mt over yesterday; SSF at Shandong port dealt 530-540 yuan/mt, increased 5-15 yuan/mt over yesterday. PBF at Tangshan port dealt 840-850 yuan/mt. The Brazilian state of Minas Gerais, which accounts for about 40% of Vale’s 2021 production, has been hit by heavy rains for the past two days. Mining and transportation at mines such as Vale have been affected to some extent, raising concerns about iron ore supply. Give ore price strong support. Considering the winter Olympics policy has not landed, northern production has been suppressed, iron ore prices remain volatile operation.
Source: Metals Market Index (MMi)