Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report May 27 2022

MMi Daily Iron Ore Index Report May 27 2022

DCE iron ore futures open lower and go higher, an increase of 4.41% throughout the day. the main contract closed 863.5. the quotation in the morning was increased by 20-30 yuan/mt over yesterday. some traders were active to sell, steel mills purchased on demand. PBF at Shandong port dealt 955-965 yuan/mt; increased 20-30 yuan/ mt over yesterday. SSF at Tangshan port dealt 760-765 yuan/mt; PBF at Tangshan port dealt 950-953 yuan/mt; increased 30 yuan/mt over yesterday. As of May 27, the inventory of 35 ports tracked by SMM totaled 129.67 million tons, a continuous decrease of 1.17 million tons compared with the previous week, an increase of 8.44 million tons over the same period last year, and the port inventory has decreased for 9 consecutive periods. However, the average daily port dredging volume of imported mines in this period decreased by 113000 tons to 3067000 tons on a weekly basis. Recently, although the inbound cargo volume of imported ore began to increase significantly, the downstream recovery was less than expected, the steel plant profit was poor, and the iron ore demand was difficult to continue to increase significantly, driving the port dredging volume to decline. With the increase of the arrival volume of imported ore at the port, and the port dredging is expected to maintain the current level, the decline in the inventory of imported ore at the port is expected to narrow or even start a small accumulation trend.

Download PDF

Source: Metals Market Index (MMi)

Recent Videos

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