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MMi Daily Iron Ore Index Report November 21 2022

The main contract closed 745.5 today. The traders’ willingness to ship is general .The steel mills are purchase on demand. The overall trading sentiment of the market is general. PBF at Shandong port dealt 735 yuan/mt,decrease 5-15 yuan/mt; PBF at Tangshan port dealt 743-745 yuan/ mt,derease 15-17 yuan/mt; SSF at Tangshan port dealt 615 yuan/mt. According to SMM tracking, global iron ore shipments last week totaled 30.98 million tons, up 4.7% month on month. Of which, 14.55 million tons were shipped from Australia to China, an increase of 18.1% month on month; Brazil sent 3.48 million tons to China, up 4.5% month on month. This week, SMM tracked that the total amount of Chinese iron ore arriving at the port was 25.96 million tons, up 3% month on month. However, due to the severe polluted weather in Hebei, Tangshan, Handan and Qinhuangdao continued to implement environmental restrictions on production, and some steel mills were also short of sinter supply to reduce hot metal output. Superimposed by the fact that Jiangsu Province continues to implement the crude steel reduction, it is expected that the hot metal production will decline slightly this week, and the port inventory may accumulate again. In addition, the news that India has.

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Source: Metals Market Index (MMi)

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