Hepcidin is produced and secreted mainly by hepatocytes, and to a lesser extent by macrophages and adipocytes . Its synthesis is regulated by iron, erythropoietic activity and inflammation . Hepcidin expression is down-regulated in anemia with concomitant iron deficiency. Thus, ferroportin is not internalized from the cell membrane and iron can be transported from stores to the plasma to provide heme synthesis and erythropoiesis with more iron. On the other hand during anemia of chronic diseases (without significant iron deficiency), hepcidin expression is even increased, which may explain why iron is "trapped" intracellularly under these conditions.