MMi Daily Iron Ore Index Report March 27 2024

DCE iron ore futures market falling trends. The main contract, I2405 closed at 805.5, an decrease of 3.53% throughout the day; some traders were negative to sell; Some steel mills tended to be wait-and-see, and purchasing enthusiasm is not high. In Shandong region, long-distance transactions are mainly conducted, while spot transactions are temporarily not available. PBF at Tangshan port dealt 811 yuan/mt; decreased 10 yuan/mt over yesterday. According to SMM research, on March 27, the blast furnace operating rate was 89.60%, up 0.15% month-on-month. The capacity utilization rate of blast furnaces was 90.57%, up 0.19% month-on-month. The daily iron output of sample steel plants was 216.46 million tons, up 0.46 million tons month-on-month. According to SMM’s tracking of blast furnace maintenance.
Source: Metals Market Index (MMi)