MMi Daily Iron Ore Index Report March 31 2022

DCE iron ore futures market rose by 3.34%.the main contract closed 897. the quotation in the morning was increased by 10-20 yuan/mt over yesterday. Most traders adopt separate quotations，Steel mills cautious purchasing. total transactions remained insipid. PBF at Shandong port dealt 985-990 yuan/mt，the same as yesterday. SSF at Shandong port dealt 710-715 yuan/mt， the same as yesterday. PBF
at Tangshan port dealt 1010-1021 yuan/mt，increased 10 yuan/mt over yesterday. SSF at Tangshan port dealt 720 yuan/mt, the same as
yesterday. Affected by macro data, DCE iron ore has a callback. However, the market is still expecting strong demand after COVID-19, and
traders have strong willingness to raise prices. Iron ore prices are expected to consolidate at a high level in the short term.

Source: Metals Market Index (MMi)