May 30th, 2022 CFR Qingdao, USD/dry tonne DCE iron ore futures opened in shock upwards, the main contract 2209 all day highest price of 886, lowest price of 863.5, and finally closed at 878, up 2.81% throughout the day. Traders’ enthusiasm for shipping has rebounded, steel mills have purchased on demand, and market transactions are general. The transaction price of PBF in Shandong is concentrated in 960-970 yuan / mt, increased 10-20 yuan / mt from last Friday, and the transaction price of SSF in Shandong is 772 yuan /mt, increased 10 yuan /mt from last Friday. The transaction price of PBF in Tangshan is 960-970 yuan / mt, increased 10-20 yuan /mt from last Friday. Shanghai, Beijing the epidemic eased, market sentiment improved, driving futures prices up. At present, it is close to the off-season of steel demand, and the profits of steel mills are not good, and the willingness to purchase iron ore is weak. It is expected that the mine price will fluctuate tomorrow.
Source: Metals Market Index (MMi)
