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MMi Daily Iron Ore Index Report January 26 2022

DCE iron ore futures market rose by 3.4%,the main contract closed 776. The spot quotation in the morning almost kept steady. But as the disk continues to rise. Today’s port spot transaction atmosphere is general, mainly with traders speculation. PBF at Shandong port dealt 885-890 yuan/mt, increased 5 yuan/mt over yesterday; SSF at Shandong port dealt 570 yuan/mt, increased 5 yuan/mt over yesterday; PBF at Tangshan port dealt 890 yuan/mt,increased 10 yuan/mt over yesterday; PBF at Jiangnei port dealt 907 yuan/mt. Recently, macro positive to boost the market, futures plate strong rise; Superimposed in early January hot metal production rose slightly, the mine price was favorable support. But at present before the Spring Festival replenishment has ended, the northern steel production limit is about to start, steel demand is almost stagnant, mining price rise power is insufficient, tomorrow iron ore price shock operation.

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Source: Metals Market Index (MMi)

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