MMi Daily Iron Ore Report (October 20)

DCE iron ore futures market rose by 3%, the main contract I2405 closed 977, some traders were negative to sell, But steel mills are cautious and cautious, resulting in a decrease in inquiries.

DCE iron ore futures rose today, the main contract I2401 closed 975.5. an increase of 1.99% throughout the day. Traders ship according to market conditions.

DCE iron ore futures rose today by 1.36%.the main contract I2401 closed 969.5. some traders were active to sell, Some steel mills tended to be wait-and-see, and purchased on demand. total transactions is poor.

On October 23rd, according to SMM research, stainless steel futures continued to decline today. The opening price of 304 cold and hot rolled steel at Delon this week has dropped by 200-300 yuan/ton compared to last week.

The macroeconomic negative factors facing nickel prices have weakened, but interest rates will be cut during the year. Expectations have declined, and it is difficult to have a positive effect on commodities.

SMM nickel-chrome-manganese-stainless steel industry chain price list

DCE I2401 iron ore contract closed up 2.33% at 879 yuan/mt today. Traders were motivated to ship goods and iron ore quotations were firm. The wait-and-see sentiment among steel mills intensified, and the overall transaction atmosphere was sluggish.

The nickel industry is in the limelight in the non-ferrous metals commodities market since 2020, as demand and supply fundamentals have become more volatile.

The global widespread of COVID-19 has forced many countries to enforce stringent containment measures which result in a heavy impact on global economic activity. Over the past few months, we saw serious disruption of manpower, transportation and production in China. We are now seeing these scenarios happening around the world.