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[SMM Iron Mine Review] the spot turnover of imported ore is weaker than that of yesterday.
May 20,2020 17:32CST
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The content below was translated by Tencent automatically for reference.

Today, even the railway high shock, the port spot market quotation continued to rise slightly in early trading. As for traders, in view of the strong performance in the afternoon, most quotes were strong; in the afternoon, they fell back as they rose higher in the afternoon, and some merchants opened up their bargaining space slightly after the close. In terms of steel mills, some steel mills just need to make a small amount of sporadic purchases, while steel mills with no obvious needs are mainly wait-and-see. 720 PB powder in Shandong area is about 725 yuan / ton, and the turnover of PB powder in Tangshan area is about 725 UV 730 yuan / ton, which is 5 yuan / ton higher than yesterday, and the increase has narrowed, and the overall transaction is weaker than yesterday. According to the SMM data model, according to the 91.8 US Gold Mine calculation, the thread profit of the long process steel mill gradually improved to about 328 yuan / ton this week, and the steel mills just need to maintain a high level for iron ore; but the purchasing strategies of most steel mills "do not buy it" for spot prices to continue to soar, and may restrain further price increases in the short term. [SMM Steel]

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