MMi Daily Iron Ore Index Report March 15 2023

DCE iron ore futures closed at 926.5.The traders’ willingness to ship is more.The steel mills are more active to purchase.The overall trading sentement of the market is general.PBF at Shandong port deal 930-939 yuan/mt, PBF at Tangshan port deal 950-955 yuan/mt,increase 5-10 yuan/mt. According to the news, rumors about the impact of overseas accidents on supply and production restriction are still circulating, but not the main transaction logic of the market. According to SMM statistics, the operaƟng rate of blast furnace increased by 0.74% to 93.16%, and the utilization rate of blast furnace capacity increased by 0.66% to 93.88%. The profit of the superimposed steel plant has been restored to support the enthusiasm of production and procurement, and the low inventory in the plant also gives support to the bottom of the ore price. However, the macro policy has not been implemented to drive the sharp rise of iron ore, and it is expected that the ore price will continue to be volatile in the short term.

Source: Metals Market Index (MMi)