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MMi Daily Iron Ore Index Report November 25 2021

DCE iron ore futures continued to fluctuate in a day, the main contract closed 611.5.and an increase of 1.83% throughout the day. The quotation in the morning was increased by 10-20 yuan/mt over yesterday. some traders were active to sell, Some steel mills tended to be wait-and-see,  today’s overall market transaction atmosphere is poor. PBF at Shandong port dealt 675 yuan/mt,the same as yesterday. According to SMM research, this week SMM’s blast furnace operating rate was 78.9% on down 0.59% month-on-week and up1.22% month-on-month. This week, some blast furnaces in Baowu system resumed production, but the overall blast furnace operation rate still declined slightly under the influence of the shutdown of steel enterprises in north China, southwest China and east China and the impact of blast furnace maintenance. In addition, environ− mental protection management and control policies in Hebei have been released, and it is expected that blast furnace production will continue to increase, and special attention should be paid to the influence of actual resumption of blast furnace production on hot metal in the later period.

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Source: Metals Market Index (MMi)

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