Market Verdict on Iron Ore：
• Neutral.
Macro：
• World Bank: Global economy growth rate potentially drop to the slowest since 2000, average growth rate at 2.2% from 2023 to 2030.
Iron Ore Key Indicators:
• Platts62 $125.10, +1.40, MTD $127.00. The iron ore market was back to normal as the risk appetite shift back. Physical trades on both float and fixed improved significantly. BHP sold MACF at $119.4, $1.1 lower than previous day. Rio Tinto once sold three laycans on Tuesday, and maitained active trade during this week. There were increasing IOCJ trades during past 2-3 weeks.
SGX Iron Ore 62% Futures& Options Open Interest (Mar 29th)
• Futures 108,444,300 tons(Increase778,100 tons)
• Options 113,349,100 tons(Increase 2,000,000 tons)
Steel Key Indicators：
• China Jan-Feb crude steel daily production at 2.8593 million tons, up 13.8% from last December. MySteel estimated crude steel production reach 2.95-3 million tons in March.
• Tangshan average billet cost 3902 yuan/ton, down 44 yuan/ton on the week. Average loss 22 yuan/ton, down 4 yaun/ton on the week.
Coal Indicators：
•Australia FOB market saw correction by seeing softened offers and less bids on the market. Secondary quality coals are surplus on this market.
