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MMi Daily Iron Ore Index Report January 24 2022

DCE iron ore futures market falling trends by 1.66%,the main contract closed 740. The spot quotation in the morning almost kept steady. Market wait-and-see sentiment increased. PBF at Shandong port dealt 860-870 yuan/mt, the same as last friday; SSF at Shandong port dealt 540-555 yuan/mt, decreased 5-10 yuan/mt over yesterday. PBF at Tangshan port dealt 875 yuan/mt. the same as last Friday. Yesterday, Tangshan opened a new round of heavy pollution weather warning, some blast furnaces have production plans; Today, the Ministry of Ecological And Environmental Protection issued a message that if heavy pollution weather occurs during the Winter Olympics, some heavy pollution, large emissions of enterprises, vehicles will be temporarily controlled. There is a risk that demand for iron ore will fall further, undermining prices. In the short term iron ore prices are expected to be weak shock.

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Source: Metals Market Index (MMi)


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