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MMi Daily Iron Ore Index Report January 19 2022

DCE iron ore futures rose largely today,an increase of 4.26% throughout the day. the quotation in the morning was increased by 30-40 yuan/mt over yesterday. Today port spot trading volume has increased, but more speculation with traders. PBF at Shandong port dealt 830-840 yuan/mt, increased 30-40 yuan/mt over yesterday; SSF at Shandong port dealt 520-540 yuan/mt, increased 10-30 yuan/mt over yesterday. PBF at Tangshan port dealt 840 yuan/mt. increased 30 yuan/mt over yesterday. Yesterday, tangshan City during the Winter Olympics production limit policy, the impact of the production of molten iron about 30%. Under the current production situation, hot iron production in January is expected to increase slightly, driving the demand for iron ore. At the same time, the central bank’s position to boost market expectations, the continued relaxation of the policy or will lead to terminal demand rose, ultimately led to steel price rise profit rise, give the mine price strong support, short-term view of the mine price or will be strong shock.

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Source: Metals Market Index (MMi)

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