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MMi Daily Iron Ore Index Report September 26 2022

DCE iron ore futures fall today by 1.46%. the main contract I2301 closed 710.5. some traders were negative to sell, Some steel mills tended to be wait-and-see, and purchasing enthusiasm is not high. total transactions remained insipid PBF at Shandong port dealt 740-750 yuan/mt; decreased 5-10 yuan/mt from last week. PBF at Tangshan port dealt 755 yuan/mt; decreased 10 yuan/mt from last week. SMM shipping data shows that last week, the total amount of imported iron arriving at the port was 20.29 million tons, down 3.18 million tons from the previous period. During this period, the overseas shipment volume was 34.97 million tons, an increase of 3.96 million tons over the previous week and 12.8% month on month; The continued increase in the arrival volume in this period is mainly due to the sharp drop in the shipment volume in the first ten days of September. At present, the demand for replenishment before the festival has a certain support for the mineral price. However, some steel plants reported maintenance plans today, and the future molten iron output is expected to decline. Focusing on the impact of environmental protection and production restriction in the north in the later period.

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Source: Metals Market Index (MMi)

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