MMi Daily Iron Ore Index Report May 19 2022

DCE iron ore futures continued to fluctuate by 0.18% in a day. the main contract closed 818. The spot quotation in the morning almost kept steady. some traders were active to sell, Some steel mills tended to be wait-and-see, and purchasing enthusiasm is not high. today’s overall market transaction atmosphere in general. PBF at Shandong port dealt 908-920 yuan/mt; increased 10 yuan/mt over yesterday. PBF at Tangshan port dealt 911 yuan/mt; increased 10 yuan/mt over yesterday. SSF at Tangshan port dealt 708-710 yuan/mt; increased 10 yuan/mt over yesterday. Recently, the macroeconomic environment has improved slightly, boosting the disk. Due to the high landing cost of imported mines, traders are still willing to support prices. Combined with the port inventory, the stock removal range is large, supporting the ore price. Iron ore prices are easy to rise but difficult to fall, and continue to operate in shock in the short term.

Source: Metals Market Index (MMi)