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MMi Daily Iron Ore Index Report July 05 2022

DCE iron ore was was shocked and continued downward all the day.The main contract closed at 742.5,increased of 1.37 %. Traders are generally motivated to ship, steel mills are mainly on the sidelines, and there are few transactions in the market.PBF at Shandong port dealt 795 -805yuan/mt,increase 10 yuan/mt compare with yesterday;SSF at Shandong port dealt 688 yuan/mt .PBF at Tangshan port dealt 805-815 yuan/ mt,increase 10 yuan/mt; SSF at Tangshan port dealt 690-695 yuan/mt. According to SMM statistics, from June 27 to July 3, a total of 77 ships arrived at major ports in my country, with an estimated cargo volume of 10.84 million tons, an increase of 70,000 tons over the previous period and an increase of 1.9 million tons over the same period last year. . During the period, the shipment volume in Australia did not meet expectations, and the increase was relatively limited. The supply side gave some support to the ore price, and the ore price rebounded slightly. Recently, some steel companies have reduced production to stabilize steel prices, and the number of overhauled steel mills is still increasing. The demand for iron ore continues to be weak, and ports may continue to accumulate warehouses. The follow-up blast furnace production.

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Source: Metals Market Index (MMi)

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