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[SMM Iron Mine Review] Shipping increment at the supply side of imported mines
May 26,2020 17:35CST
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The content below was translated by Tencent automatically for reference.

Today, even the railway concussion downward, the port spot market early market quotation reduced by 5 yuan / ton. In early trading, some steel mills made active enquiries and had a high degree of activity. Afternoon trading continued to weaken, traders are generally willing to ship goods. Shandong area PB powder turnover 718mur725 yuan / ton, Tangshan area PB powder turnover about 725 yuan / ton, compared with yesterday showed a decline of 10 murals 15 yuan / ton. In view of the strong sentiment of some merchants to cherish the sale, some take the order-to-order negotiation. On the whole, today's transaction is relatively mediocre. According to SMM tracking data, a total of 83 ships arrived at China's main ports from May 17 to May 23, with an estimated arrival volume of 13.37 million tons, a decrease of 140000 tons compared with the previous period. In this period, the ship-to-ring ratio increased in Tangshan area and decreased in Shandong area. During the period, Australia's departure increased by 1.62 million tons month-on-month to 17.42 million tons, an increase of 3.16 million tons over the same period last year, an increase of more than 20 percent. The current period of Brazilian port departure increased by 810000 tons to 5.52 million tons, a decrease of 500000 tons over the same period last year. Short-term supply-side shipping increment superimposed steel prices under pressure callback average short-term iron ore prices, short-term market or weak finishing. [SMM Steel]

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