MMi Daily Iron Ore Report (April 8)

DCE iron ore futures performed relatively weak today, physical port price in the morning lowered around 10-15 yuan/mt. PBF at Shandong and Tangshan port dealt as 1125-1132 yuan/mt and 1130 yuan/mt, respectively, 3-10yuan/mt lower than yesterday. According to the calculation of 26 steel mills affected by production restrictions in Tangshan tracked by SMM, including 126 BFs, the actual pig iron output of Tangshan’s environmental protection policy is calculated to be 8.33 million mt, a decrease of about 17% from 10.07 million mt in the previous two months.