Market Verdict on Iron Ore：
• Neutral.
Macro：
• China NDRC held meeting to improve price stablisation in 2023, including strengthening supply, enhancing price mechanism and increasing effective price management.
Iron Ore Key Indicators:
• Platts62 $125.50, +2.60, MTD $124.61. Recently BHP sold few laycans of JMBF at IODEX March Index and a discount of $4.9. PBF and NHGF premium have pressure on float basis. The import loss caused by sudden increased iron ore could hold back the physical traders interest again.
• CISA held meeting with Vale to discuss the improving the rational pricing on iron ore.
SGX Iron Ore 62% Futures& Options Open Interest (Feb 9th)
•Futures 103,361,600 tons(Increase 1,766,200 tons)
• Options 78,966,800 tons(Increase 1,598,000 tons)
Steel Key Indicators：
• Tangshan average billet cost 3010 yuan/ton, average loss 114 yuan/ton, up 62 yuan/ton.
Coal Indicators：
• The FOB Australia coking coal market maintained growth, seeing HCCA Branded bids at $370/mt.
