MMi Daily Iron Ore Report (May 31)

DCE iron ore futures first fell and then rose. The main contract I2409 closed at 768, an increase of 2.61% throughout the day; Traders are actively shipping,

On March 12th, lithium carbonate futures surged 4.13% to 119,850 yuan/ton, and spot prices rose to an average of 110,000 yuan/ton, amid market optimism and supply-demand adjustments.

DCE iron ore futures tight by 0.69%. the main contract I2405 closed 879.5. Traders ship according to market conditions.

DCE iron ore futures rose largely today. the main contract I2405 closed 897.5. an increase of 1.24% throughout the day.Some traders adopt separate quotations;

On February 26, the average price of SMM8-12% high nickel pig iron was 945 yuan/nickel point (ex-factory tax included), which was 5 yuan/nickel point higher than the previous working day.

DCE iron ore futures market falling sharply trends，the main contract I2405 closed 875. an decreased of 3.12% throughout the day; some traders were negative to sell, Some steel mills tended to be wait-and-see, and purchasing enthusiasm is not high.

Phosphoric acid prices have been increased, leading to higher production costs for ferrous phosphate and wet-process phosphoric acid (PPA).

If you have any questions regarding the industry data, or the news (e.g. how this can affect your business). Please feel free to reach out to me: Robin He SMM Li-ion Battery Materials Department E: robinhe@smm.cn | T: +86-21-51595884

In January, the average monthly price of 9990 magnesium ingots in the main producing areas was 20,190 yuan per ton, down 1.2% month-on-month. Looking back at January: At the beginning of the month, bearish sentiment still prevailed in the magnesium market, with prices continuing their downward trend from the previous year, falling to 20,100 yuan per ton, once again approaching the cost margin, leading to an increase in the willingness of magnesium plants to support prices; In mid-Jan, pre-spring-festival stockpiling makes the market price went a bit higher; Now, domestic 9990 magnesium ingots prices reduced to around 20100 again.

As the Chinese New Year approaches, we at Shanghai Metals Market extend our warmest wishes to you and your families. May this festive season bring you joy, prosperity, and success.