Coke Prices Remain Bullish

DCE iron ore futures declined by 1.39% today, the main contract closed 675.5. The traders' willingness to ship is general .The steel mills are purchase on demand.

DCE iron ore futures declined by 4.11% today, the main contract closed 606.5. The traders' willingness to ship is less. The steel mills are purchase on demand.

DCE iron ore futures rose by 2.21% today, the main contract closed 739.5.More transactions in the market.PBF at Shandong port dealt 763-768 yuan/mt, increase 3-13yuan/mt;

It still remains to be seen whether the downstream demand for steel will reach its peak. But the current profits of steel mills are acceptable, which boosts the enthusiasm of steel mills to produce and also their demand for iron ore.

DCE iron ore futures fall today, the main contract 2301 closed 707.5. an decrease of 2.88% throughout the day; some traders were negative to sell, steel mills purchased on demand.

SHANGHAI, Jun 21 (SMM) - The market is worried about the economic outlook in the context of US and European interest rate hikes to fight soaring inflation, weighing on base metals. SHFE zinc hit its lowest since May 16 at 25,165 yuan/mt yesterday.

In the futures market, LME copper opened at $8,879/mt yesterday and rose to $8,892.5/mt after falling to $8,851/mt.

the annual promotion volume of new energy vehicles in Shanghai in 2021 stood at 254,000 units, a year-on-year increase of 110%.

Nonetheless, iron ore prices are likely to remain stable with some downward potential as the fundamentals have changed little.

Shanghai nonferrous metals closed mixed on the first trading day after the Dragon Boat Festival. The market was relatively bullish as the demand side in China continues to pick up amid policy support. Meanwhile, on May 31 local time, Biden and Powell met and supported a 50bp rate hike at the June and July meetings, easing the worries over a potential 75bp rate hike.