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MMi Daily Iron Ore Index Report June 07 2022

DCE iron ore futures had wide amplitude oscillation operation. The main contract closed 928.5,decreased of 0.59%. Traders are generally enthusiastic about selling, steel mills are mainly keep take and see attitude, and the market transaction atmosphere is positive. PBF at Shandong port dealt 995-1000yuan/mt, increased 5-10 yuan/mt over last week.PBF at Tangshan port dealt 995-1000 yuan/mt; increased 3-8 yuan/mt over last week. The transaction price of SSF in Tangshan was concentrated at 833 yuan, 16 yuan / ton higher than that of last week. SMM tracking data shows that from May 30 to June 5, a total of 80 ships arrived at China’s major ports. The arrival volume is expected to be 12.1 million tons. The arrival volume decreased by 400000 tons compared with the previous period and 570000 tons compared with the same period last year. During the period, Australia’s outbound decreased by 4.6 million tons to 15.23 million tons month on month, a decrease of 2.07 million tons compared with the same period last year; Brazil’s departure from the port increased by 1.21 million tons to 7.25 million tons, an increase of 150000 tons over the same period last year. The inbound volume of imported ore decreased slightly on a month on month basis,

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Source: Metals Market Index (MMi)


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