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MMi Daily Iron Ore Index Report September 27 2022

DCE iron ore futures rose by 1.13% today, the main contract closed 718.5. Some traders were active attitude to sell. More steel mills tended to purchasing. Total transactions returned toactive.PBF at Shandong port dealt 740-750 yuan/mt; increased 2-10 yuan/mt than yesterday. PBF at Tangshan port dealt 762 yuan/mt ,increase 2-7 yuan/mt. Recently, due to the air quality in Tangshan, the production of sintering machines has been restricted according to a certain proportion. Considering that the steel mill has a small amount of sintered ore inventory in the short term, it will not have much impact, but in the long run, the demand for raw materials will decrease slightly, and the demand for pellets and lumps will increase. At present, steel mills continue to replenish iron ore inventories before the National Day, and the recovery of terminal demand supports steel prices, which has a certain drive for iron ore demand. It is expected that the iron ore price will fluctuate strongly in the short term.

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Source: Metals Market Index (MMi)

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