Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report January 05 2022

MMi Daily Iron Ore Index Report January 05 2022

DCE iron ore futures continued to fluctuate in a day, the main contract closed 689, an increase of 2.13% throughout the day. The quotation in the morning was increased by 10 yuan/mt over yesterday. some traders were active to sell, steel mills purchased on demand. Today the overall market transaction atmosphere is acceptable. PBF at Shandong port dealt 805-808 yuan/mt, increased 0-5 yuan/mt over yesterday; SSF at Shandong port dealt 490-500 yuan/mt, increased 0- 10 yuan/mt over yesterday; PBF at Tanshan port dealt 815-818 yuan/mt; increased 5-10 yuan/mt over yesterday; PBF at Jiangnei port dealt 835 yuan/mt; increased 5 yuan/mt over yesterday; The domestic operating rates of blast furnaces rose though the production of some still mills in Shanxi and Hebei was restricted by the heavy air pollution. Hence the iron ore demand is likely to increase, coupled with the restocking demand ahead of the Chinese New Year, which will offer some support to iron ore prices. On the other hand, however, as the arrivals at ports were still on the rise and the port inventory stood at a high level, the iron ore prices are expected to rise only limitedly.

Download PDF

Source: Metals Market Index (MMi)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping