Daily Updates On Imported Iron Ore Market

SHANGHAI, May 18 (SMM) – The most-traded DCE 2309 iron ore contract closed up 1.91% at 746.5 yuan/mt today May 18. Traders sold normally, while steel mills mostly stood on the sidelines. Overall transactions were moderate. The transaction prices of PB fines in Shandong were unchanged from yesterday at 800 yuan/mt. Expectations for domestic economic stimulus policies, boosted iron ore prices. Blast furnace operating rates rose slightly this week, boosting iron ore demand. Iron ore inventory at 10 major domestic ports dropped slightly this week. However, weak steel market will prevent iron ore prices from rising sharply in the short term.

More popular news

CITI Research Lowers Price Forecast for Nickel, Aluminium and Zinc in 2023-2024 But Bets on Higher Copper Prices

Chinese Lithium Giant Denies Rumours, More Players Extend Industry Chain to Downstream Automakers

Goldman Sachs: China will be the only major economy with positive growth this year, bullish bets on new energy vehicles and biotechnology in the long run

Key April Chinese Economic Data Are Released, Including Real Estate Investment, Industrial Added Value and Consumer Goods Retail Sales

China’s Central Bank Releases Key April Economic Data: RMB Loans Issued to the Real Economy, Newly-Added Social Financing, Newly Added RMB Loans, Balance of M2, M1 and M0, All Recording Enormous Growth       

IMF: Asia-Pacific To Contribute More Than 70% To Global Economic Growth, With China Being Key Engine

Dollar, Oil, Gold, Base Metals, Ferrous Metals All Go Down, EIA Cuts Oil Price Forecast

IMF: Western Sanctions against Russia Are Ineffective, European Economy Faces Multiple Challenges

Chinese Property Market Still In Downturn, But On Track To Recover With Improving Economy And Favourable Policies, National Bureau Of Statistics Says

China To Actively Expand Domestic Effective Demand And Boost New Energy Vehicle Sales, National Development And Reform Commission Says          

Goldman Sachs, Barclays warn: Fed will not cut interest rates this year

Balance of M2, M1 and M0 All Rise at the End of April, China’s Central Bank Says

India to become Europe’s top supplier of refined oil products after massive purchases of Russian oil     

EIA Cuts Brent and WTI Oil Price Forecasts for 2023 as Recession Fears, Inflation and Banking Crisis Overshadow OPEC's Production Cuts

Morgan Stanley, Goldman Sachs and BoA Are Pessimistic, Here Is Why    

Global Chip Market Will Decline 20% This Year

Domestic Steel Scrap Prices Plummeted In April

Investment Tycoon Charlie Munger Warns A Storm Is Brewing In US Commercial Property Market And The Golden Age Of Investment Is Over      

Chile’s Latest Move Marks One Step Closer to the Establishment of Lithium Version of OPEC

Sunwoda's "Flash Charge Battery" Can Power Electric Cars 1,000 Kilometres on A Single Charge

Massive Aluminium Capacity In China To Be Resumed Or Put Into Operation In H2 2023

"No One Understands Global Economy Better Than I Do"! Tesla CEO Musk Warns of Severe Recession Looming Large

Accelerating RMB Globalisation Threatens Dollar’s Dominance