Market Verdict on Iron Ore：
• Neutral.
Macro：
• The European Central Bank, raised interest rates by 50 basis points, has persisted in fighting inflation, ignoring calls from some investors for a temporary tightening of policy until the banking turmoil has eased. The ECB announced that it would raise its deposit rate to 3%, the highest level since the end of 2008.
• The Federal Reserve is expected to raise interest rates by 25 basis points at its meeting next week, following a radical rate hike by the European Central Bank and stronger than expected US economic data, hiding the lingering concerns about the global banking crisis.
Iron Ore Key Indicators:
• Platts62 $130.45, -2.65, MTD $129.22. The steel margin recovered gradually. BHP traded MACF at fixed price at $127.55, which started earlier at $129.6 in trading window. Previous trade was concluded at $129.9.
SGX Iron Ore 62% Futures& Options Open Interest (Mar 16th)
• Futures 109,520,400 tons(Increase 590,800 tons)
• Options 92,086,100 tons(Increase 2,460,000 tons)
Steel Key Indicators：
• CISA steel production volume in early March fell 3.08% compared with late February.
Coal Indicators：
• China Commerce Department said to recover all import coals approvals applications.
