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MMi Daily Iron Ore Index Report March 20 2023

DCE iron ore futures market falling sharply trends by 2.48% the main contract closed 883. some traders give more bargain space on some brands and their negotiation pattern is more flexible. Some steel mills tended to be wait-and-see, and purchasing enthusiasm is not high. today’s overall market transaction atmosphere in general. PBF at Shandong port dealt 900-908 yuan/mt; decreased 15-20 yuan/mt from last Friday. PBF at Tangshan port dealt 913-917 yuan/mt; the decreased 13-25 yuan/mt from last Friday. This week iron ore shipments and shipments to port still slightly down, supply is still in a tight pattern. Today’s sharp drop in iron ore prices, on the one hand from Handan and Tangshan two places due to heavy pollution weather led to sintering machine limited production. In addition, as the National Development and Reform Commission will continue to investigate the iron ore price this week, the iron ore price fell sharply. Later, considering the impact of the Federal Reserve’s interest rate hike and policy regulation, this week’s fluctuation of the mine price range.

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Source: Metals Market Index (MMi)

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