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MMi Daily Iron Ore Index Report March 23 2022

DCE iron ore futures open lower and go higher, the main contract closed 822.5, an increase only 0.43% throughout the day; but as the disk continues to decline. some traders were active to sell, Some steel mills purchasing enthusiasm are not high. total transactions remained insipid. PBF at Shandong port dealt 930-950 yuan/mt; prices are mixed today over yesterday. SSF at Shandong port dealt 644-650 yuan/mt; increased 5 yuan/mt over yesterday. SSF at Tianjin port dealt 670 yuan/mt; decreased 3 yuan/mt over yesterday. Affected by the COVID-19, Tangshan implemented the whole area closed control, traffic and transportation standstill. The epidemic situation in Shandong Binzhou has not been alleviated. Two places of raw materials and timber transport stagnation, a number of steel mills stuffy furnace, iron ore demand rapid decline, in the short term, the price of weak shock operation.

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Source: Metals Market Index (MMi)


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