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MMi Daily Iron Ore Index Report August 15 2022

DCE iron ore futures fall today, the main contract 2301 closed 707.5. an decrease of 2.88% throughout the day; some traders were negative to sell, steel mills purchased on demand. total transactions remained insipid. PBF at Shandong port dealt 764-775 yuan/m, decreased 5-10 yuan/ mt from last week. SSF at Shandong port dealt 640 yuan/mt from last week.; PBF at Tangshan port dealt 775 yuan/mt; decreased 10 yuan/mt from last week. According to SMM shipping data, the total amount of imported ore arriving at the port last week was 23.62 million tons, an increase of 2.29 million tons over the previous period. During this period, the overseas shipment volume was 29.38 million tons, which was a decrease of 570000 tons last week, a slight decrease compared with the previous week; The continuous increase in the arrival volume in this period is mainly due to the increase in the shipment volume at the end of July. The domestic demand growth is slow, and the port inventory will continue to increase, which is bad for the mine price. Superimposed on the poor real estate data today, it is expected that the mine price will continue to be weak and volatile tomorrow.

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Source: Metals Market Index (MMi)


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