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[daily Review of Iron Ore Market] the turnover of iron ore at the beginning of Zhou was mediocre.
May 25,2020 17:05CST
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This morning even iron diving after the shock uplink, the port spot market basically stable in early trading. With the pullup of the market, the quotations of some merchants have been raised by 5 yuan / ton. At the beginning of the week, the steel mills were mainly wait-and-see, and the purchasing enthusiasm was low. Afternoon volatility weakened, some merchants slightly expanded bargaining space, a small number of steel mills on-demand procurement, on the whole today's spot market transactions are relatively general. The turnover of PB powder in Shandong area is about 730mur735 yuan / ton, and that of PB powder in Tangshan area is about 740 yuan / ton, which is 5 yuan / ton higher than that of last Friday. The operating rate of blast furnace in domestic steel mills continues to rise, but the support for spot prices continues to be weakened by a small amount of purchasing strategy on demand, but considering that some mainstream resources in the port spot are still tight recently, traders are also willing to sell at high prices. Overall mineral prices or continue to rise but difficult to fall trend, but need to be cautious about the short-term correction of steel prices on the suppression of mineral prices. [SMM Steel]

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