Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report March 11 2022

MMi Daily Iron Ore Index Report March 11 2022

DCE iron ore futures market rose by 3.79%. the main contract closed 822. the quotation in the morning was increased by 5-10 yuan/mt over yesterday. some traders quotation is still stronger, steel mills purchased on demand. total transactions is few. PBF at Shandong port dealt 980 yuan/mt; decreased 10yuan/mt over yesterday. SSF at Shandong port dealt 625-635 yuan/mt; the same as yesterday. PBF at Tangshan port dealt 995-1005 yuan/mt; decreased 5-10 yuan/mt over yesterday. Stocks at 35 ports tracked by SMM totaled 153.64 million tons as of March 11, down 430,000 tons from the previous week and still up 24.39 million tons from the same period last year. Meanwhile, the average daily port clearance volume of imported ore dropped 33,000 tons to 2.847 million tons per week. Recently, some areas in the north are still affected by the Paralympics and other production restrictions, coupled with the poor profit performance of steel mills, the demand for iron ore has not seen a significant increase, leading to the decline of shugang port. However, there was no significant increase in the amount of imported ore cargo in the past two periods, which led to continued decline in the port stock. However, considering that with the end of the Paralympic Games, some steel mills are still expected to import ore procurement, is expected to increase port volume this week, driving port inventory continues to decline.

Download PDF

Source: Metals Market Index (MMi)

Recent Videos

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