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MMi Daily Iron Ore Index Report January 14 2022

DCE iron ore futures market falling trends by 2.03%. the main contract closed 722. the quotation in the morning was decreased by 10-20 yuan/mt over yesterday. part of the business quotation shipping mentality turn weak; steel mills purchased on demand. today’s overall market transaction atmosphere in general. PBF at Shandong port dealt 830-832 yuan/mt, decreased 5-20 yuan/mt over yesterday; SSF at Shandong port dealt 520 yuan/mt, decreased 15 yuan/mt over yesterday. PBF at Tangshan port dealt 832 yuan/mt. decreased 15-20 yuan/mt over yesterday. Stocks at 35 ports tracked by The SMM totalled 152.64 million tonnes as of January 14, a slight increase of 830,000 tonnes month-on-week. Although before the Spring Festival steel replenishment continued, the purchase volume has increased; However, the amount of imported ore to the port did not significantly reduce, coupled with the easing of some port pressure, leading to a small accumulation of imported ore port inventory. Considering next week there is still a steel demand, port inventory is expected to fall again. Overall, in the short term, the mine price will still shock operation.

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Source: Metals Market Index (MMi)

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