Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report March 17 2023

MMi Daily Iron Ore Index Report March 17 2023

DCE iron ore futures rose by 0.44% today, the main contract closed at 915.The traders’ willingness to ship is more.The steel mills are more active to purchase. The overall trading sentiment of the market is general.PBF at Shandong port deal 919-928 yuan/mt, increase 1-12 yuan/ mt.PBF at Tangshan port deal 940-942 yuan/mt,increase 1-10 yuan/mt. As of March 17, the inventory of 35 ports tracked by SMM totaled 133.12 million tons, down 950000 tons from last week and 16.23 million tons from the same period last year. As of now, the inventory of 35 ports has decreased for three consecutive periods. The main reason for this week’s inventory decline is the increase in raw material demand for steel mills. According to SMM staƟsƟcs, this week’s blast furnace operaƟng rate and capacity uƟlizaƟon rate of steel mills increased month on month, and molten iron production further increased. Although the current growth rate of downstream demand is moderate, it still meets market expectations, and the mentality of steel mills is relatively optimistic. Overall, although the profits of steel mills have weakened, there is still room for improvement in the molten iron of the blast furnace, and it is expected that the ore price will continue to fluctuate in the short.

Download PDF

Source: Metals Market Index (MMi)

Recent Videos

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