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MMi Daily Iron Ore Index Report November 15 2022

DCE iron ore futures rose by 0.14% today, the main contract closed 719. The traders’ willingness to ship is general . The steel mills are purchase on demand. The overall trading sentiment of the market is general. PBF at Shandong port dealt 718-723 yuan/mt,increase 3-13 yuan/mt. PBF at Tangshan port dealt 730-732 yuan/mt,increase 5-7 yuan/mt. Today’s macro data release, real estate investment, construction and sales all fell month-on-month, may cause the market sentiment to change. From the basic point of view, the recent steel mill production resumption plan is frequent. According to SMM statistics, the impact of blast furnace maintenance this week is 187.81 tons of molten iron, which is 85,800 tons less than last week’s maintenance impact, or drive the demand for raw material replenishment. Multi – short – term news interweave, iron ore prices will be the main shock operation.

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Source: Metals Market Index (MMi)

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