[SMM Iron Ore Review] recent upside space for lump ore premiums may be limited

Today, Liantie continues to be strong, and the quotations of some merchants in the port spot market continue to increase by about 10 yuan / ton. Traders quoted actively in the morning, some steel mills have been completed this week, the overall transaction today. The turnover of PB powder in Shandong area is 670mur680 yuan / ton, and that of PB powder in Tangshan area is 685 yuan / ton. The transaction price is 10 yuan / ton higher than that of yesterday. From the perspective of transaction varieties, the transaction of lump mines has improved slightly in the near future. On the one hand, the price difference of spot powder in ports continues to narrow, and the ratio of performance to price of lump ores has improved; on the other hand, due to the tight supply of resources in Brazil, the market demand for other low aluminum varieties has increased. Lump ore premium rose slightly this week. However, considering that the current port block ore inventory is still abundant, superimposing the impact of the rainy season, or restraining block ore demand, the upward space of block ore premium may be limited. [SMM Steel]