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MMi Daily Iron Ore Index Report March 09 2022

DCE iron ore futures market falling trends by 3.85%.the main contract closed 812.5. The spot quotation in the morning almost kept steady. but as the disk continues to decline, some traders were decreased the price. total transactions remained insipid. PBF at Shandong port dealt 981 yuan/mt; decreased 10-30 yuan/mt over yesterday. SSF at Shandong port dealt 640- 650 yuan/mt; decreased 10-15 yuan/mt over yesterday. Recently, there is little change in iron ore supply and demand, but affected by various news, market sentiment is driven to rise rapidly, port spot price keeps rising; However, due to the continuous rise in raw material prices leading to continuous contraction of steel profits, the acceptance of high prices is general, mineral price pressure, in the short term shock finishing operation.

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Source: Metals Market Index (MMi)

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