MMi Daily Iron Ore Index Report November 24 2021

DCE iron ore futures market rose by 5.84% ,and the main contract closed 616.5. the quotation in the morning was increased by 30-40 yuan/mt over yesterday. Some traders were active to sell,but Some steel procurement more cautious, total transactions remained insipid.PBF at Shandong port dealt 645-680 yuan/mt, increased 0-30 yuan/mt over yesterday. PBF at Tangshan port dealt 645-650 yuan/mt,increased 10-20 yuan/mt over yesterday. PBF at Jiangnei port dealt 740 yuan/mt. SMM analysis,DCE iron ore futures rose for four consecutive days due to the recovery of steel profits and the completion of the crude steel flat control task, leading to the market for the resumption of blast furnace expectations. But from the fundamental point of view, Heibei and Sichuan area at the same time issued severe pollution weather warning and air pollution prevention measures, affected by this part of the sintering machine and blast furnace will be again concentrated production, iron ore needs to be suppressed, the future mine price continue to rise space or more limited.