DCE iron ore futures again decreased today, main contract has hit the lowest 717.5 during trading period; the spot quotation in the morning has decreased by 25-30yuan/mt. Some traders sell along with market changes, they tend to sell actively. Some steel mills keep quite cautious recently but others are willing to buy, mainly considering that the high coal price recently, they would like to buy middle and high Fe iron ore to save costs. PBF at Shandong port dealt 970yuan/mt, down 15yuan/mt; PBF at Jiangnei port dealt 975yuan/mt, down 20yuan/mt; PBF at Tianjin port dealt 1040yuan/mt today. Today, Jiangsu province carried out 2021 annual comprehensive energy-consuming control activity, involving steel industry from 8 Sep. to 30 Sep. According to SMM, some steel mills closed their part of equipment but some steel mills told that they haven’t received the exact notification about production restrictions. Recent production restrictions continuously appear, which still suppress the iron ore price.
Source: Metals Market Index (MMi)