MMi Daily Iron Ore Index Report June 21 2022

DCE iron ore was was shocked all the day.The main contract closed 749,decreased of 3.10%. Traders are not very enthusiastic about shipments, steel mills are mainly on the sidelines, and there are few transactions in the market.PBF at Shandong port dealt 810-823 yuan/mt,decreased 7- 13 yuan/mt compare with yesterday; SSF at Shandong port dealt 720 yuan/mt, keep stable compare with yesterday. According to SMM statistics, a total of 76 ships arrived at major ports in China from 6.13 to 6.19, and the arrival volume of imported iron ore increased slightly compared with the previous month. Nearing the end of the second quarter, in order to achieve the delivery plan of overseas mines, there are still expectations for the amount of arrivals to the port. Affected by the steel plant maintenance plan recently, demand has continued to decline. On the whole, it is expected that the mine price will fluctuate weakly in the short term.

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Source: Metals Market Index (MMi)