MMi Daily Iron Ore Index Report March 21 2022

DCE iron ore futures continued to fluctuate by 0.97% in a day, the main contract closed 832.5. The spot quotation in the morning almost kept steady. Market wait-and-see sentiment increased. total transactions remained insipid. PBF at Shandong port dealt 940-955 yuan/mt; decreased 5-15 yuan/mt from last Friday. SSF at Shandong port dealt 640-650 yuan/mt; decreased 5-15 yuan/mt from last Friday. Recently ,the epidemic situation in Hebei has intensified, traffic control in many places, logistics and transportation are limited, and the quantity of ports and ports has dropped significantly. Considering that the raw material inventory of steel mills is still in a medium position, and the local government has actively introduced corresponding policies, the short-term impact on steel mills’ production is not great, and the price of ore is in shock.

Source: Metals Market Index (MMi)