Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report April 12 2022

MMi Daily Iron Ore Index Report April 12 2022

DCE iron ore futures open lower and go higher,an increase of 4.40%throughout the day, the main contract closed 797.5. the quotation in the morning was increased by 10 yuan/mt over yesterday, and continue to increase 10-20 yuan as the disk rise. some traders were active to sell, steel mills purchased on demand. Today the overall market transaction atmosphere is acceptable. PBF at Shandong port dealt 990-1010 yuan/mt; increased 20-30 yuan/mt over yesterday. SSF at Shandong port dealt 715 yuan/mt; increased 5-15 yuan/mt over yesterday. PBF at Tangshan port dealt 1015-1020 yuan/mt; SSF at Tangshan port dealt 735 yuan/mt. increased 20 yuan/mt over yesterday. According to SMM tracking data, a total of 63 ships arrived at Major ports in China from April 4 to April 10, and the cargo arrival volume is estimated to be 9.662 million tons, which is 790,000 tons less than the previous period and 2.358 million tons less than the same period last year. During this period, The outbound shipments from Australia remained unchanged to 17.2 million tons, down 2.86 million tons compared with the same period last year. Brazil’s outbound shipments increased by 500,000 tons to 5.36 million tons, down 260,000 tons compared with the same period last year. The amount of imported ore to Hong Kong decreased slightly in this period, while the overall shipments from Australia and Brazil increased slightly. At present, shipments from Australia tend to be stable, while shipments from Brazil are still unstable due to the impact of the rainy season. Short-term arrival volume will still be at a low level, giving some support to the mine price, superimposed on stable domestic demand rising, in the short term, the mine price will be strong shock operation.

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Source: Metals Market Index (MMi)

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