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MMi Daily Iron Ore Index Report June 10 2021

DCE iron ore futures market headed for strong momentums today and quotations in the physical port stock market picked up slightly. PBF in Shandong market was closed at 1450-1455yuan/mt while that in Tangshan market was 1460yuan/mt, up by 15yuan/mt over yesterday . The supply shortage of some mainstream ore products pushed up price hike in Tangshan market. Besides, it is heard the production control in Tangshan is going to reduce, mills demands for iron ore warmed up, stimulated destocking of iron ore from Jingtang and Caofeidian ports. SMM’s data showed iron ore inventory at domestic major ports remained decreasing tendency and high grade and low grade ore products presented obvious decrements due to mills current high demands.

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Source: Metals Market Index (MMi)

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