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MMi Daily Iron Ore Index Report June 27 2022

DCE iron ore was was shocked and continued upward all the day.The main contract closed at 736,increased of 0.96%. 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 830 yuan/mt,increase 25 yuan/mt compare with yesterday. PBF at Tangshan port dealt 835 yuan/mt,increase 35 yuan/mt. After the sharp correction in the mining price period last week, the disk risk was released to a certain extent, the iron ore disk rebounded, and the opening this week maintained an upward trend. After the recent blast furnace shutdown for maintenance, the price of finished products rose slightly, which restored the profits of steel mills and eased market sentiment. However, the market transaction situation is general, and the demand is still weak in the short term. It is expected that iron ore prices will fluctuate in the short term.

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Source: Metals Market Index (MMi)

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