MMi Daily Iron Ore Index Report May 25 2022

DCE iron ore futures continued to fluctuate in a day, the quotation in the morning was increased by 5-10 yuan/mt over yesterday. some traders were active to sell, but steel mills purchased on demand. total transactions remained insipid. PBF at Shandong port dealt 950-955 yuan/mt; increased 10-15 yuan/mt over yesterday. SSF at Shandong port dealt 755 yuan/mt; increased 5 yuan/mt over yesterday. PBF at Tangshan port dealt 945 yuan/mt; increased 15 yuan/mt over yesterday. Today, the State Council held a national teleconference on stabilizing the overall economic market, urging all localities to pay close attention to the implementation and speed up the introduction of economic stabilization policies in line with local realities, or focus on it. This news led to a sharp rise in late trading. In addition, a new blast furnace was put into operation this week, and the overall hot metal output increased steadily. However, considering the recent macro news, the superimposed steel plant profit has not improved, and the ore price is expected to fluctuate in the short term.

Source: Metals Market Index (MMi)