MMi Daily Iron Ore Report (May 23)

Prices of the most active silicon contract are likely to move rangebound next week (July 7-13). The SMMI index rose 0.4% on a weekly basis as of Wednesday. The most-traded silicon metal futures contract rose before falling this week.

DCE iron ore futures rose by 0.97% today, the main contract closed at 829.5.The traders' willingness to ship is more.The steel mills are active to purchase.The overall trading sentiment of the market is better.PBF at Shandong port deal 866-877 yuan/mt.

DCE iron ore changed from strong to weak in the afternoon. the main contract I2309 closed 822.5. an decrease only 0.72% throughout the day; some traders were negative to sell, steel mills purchased on demand.

DCE iron ore futures fall today by 0.99%. the main contract I2309 closed 797.5. some traders were negative to sell, and quotation is still stronger;

DCE iron ore futures rose by 2.9% today, the main contract closed at 745.5.The traders' willingness to ship is general.The steel mills are not active to purchase.The overall trading sentiment of the market is general.

DCE iron ore futures declined by 0.28% today, the main contract closed at 707.5.The traders' willingness to ship is general.The steel mills are not active to purchase

SMM reported that the market quotation for hot-rolled coil in the morning of May 25 dropped 20 yuan/mt compared with the prior day.

Tsingshan Group's purchase price of high-carbon ferrochrome in June 2023 under long-term contracts stood at 8,995 yuan/mt (Cr 50%, including tax, cash payment, delivery to factory).

Last week, the price of inverters was temporarily stable. The price of 20 kw grid-connected inverters was 0.2-0.26 yuan/W, the price of 50kw was 0.18-0.21 yuan/W, and the price of 110kw was 0.16-0.19 yuan/W. In terms of different models, the supply of IGBT single tubes used in household models and industrial and commercial low-voltage and low-power models is sufficient.

Mainstream DMC prices stabilised this week.