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MMi Daily Iron Ore Index Report November 18 2021

DCE iron ore futures market falling sharply trends,as low as 489.5, an decrease of 4.28% throughout the day; the quotation in the morning was decreased by 10yuan/mt over yesterday. as the disk continues to decline,part of the business quotation shipping mentality turn weak,some traders lowered their offer, and steel mills purchased on demand, today’s overall market transaction atmosphere in general. PBF at Shandong port dealt 570yuan/mt, decreased 20-25 yuan/mt over yesterday. PBF at Tangshan port dealt 565-570 yuan/mt, decreased 20-25 yuan/mt over yesterday.According to SMM research, this week SMM’s blast furnace operating rate was 9.49% on. down 0.17% month-on-week and up 1.03% month-on-month. The main reason is that north China is affected by the decline of steel profits and environmental protection production limits, some blast furnaces open for maintenance, while the northeast individual blast furnaces resume production, the overall operating rate level is basically stable. On the other hand, many places in the north recently appeared fog weather, Hebei, Shandong, Liaoning many places issued a red alert, for the steel mill sintering machine had to upgrade again, the weak iron ore demand further reduce, iron ore weak pattern will continue.

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Source: Metals Market Index (MMi)

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