Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report June 29 2022

MMi Daily Iron Ore Index Report June 29 2022

DCE iron ore was was shocked and continued upward all the day.The main contract closed at 803.5,increased of 2.29%. 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 867- 875yuan/ mt,keep stable compare with yesterday. SSF at Shandong port dealt 725 yuan/mt. PBF at Tangshan port dealt 875 yuan/ mt,increase 5 yuan/mt. SSF at Tangshan port dealt 738yuan/mt.Recently, there have been frequent reports of good macroeconomic news, and today’s new measures for epidemic prevention have been relaxed, boosting market confidence. Superimposed that the current steel mill finished product inventory is showing a downward trend, the production enthusiasm of the factory has increased compared with before, and the demand for iron ore has stabilized, which will give some support to the ore price; but considering that the profit of the steel mill is still in a state of loss, there is still a risk of decline in the production of molten iron , it is expected that the mine price will continue to fluctuate in the short term.

Download PDF

Source: Metals Market Index (MMi)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping