In terms of iron ore supply, Australia and Brazil's iron ore shipments increased by 2.67 million tons on a monthly basis during June 10-June 16, reaching 28.60 million tons. While Australian shipments to China increased by 1.36 million tons compared to the previous month, reaching 20.89 million tons, shipments from Brazil increased by 1.3 million tons and reached 7.7 million tons.
The total amount of iron ore arriving at 47 ports in China was recorded as 23.13 million tons, with a decrease of 2.19 million tons compared to the previous month. The amount of iron ore arriving at the six ports in the north increased by 255,000 tons compared to the previous month and reached 11.78 million tons.Looking at the performance of the steel facilities, the blast furnace operating rate was 82.05%, while the blast furnace iron production capacity utilization rate was recorded as 89.53%. However, the profitability rate of steel plants decreased by 3.03% compared to the previous month, falling to 49.78%.
On the inventory side, the imported iron ore stock in 45 ports across the country was calculated as 14.89 million tons, with a decrease of 35.14% compared to the previous month. In particular, while there was a 9.14% increase in Australian ore stocks, a 4.43% decrease was recorded in Brazilian ore.DCIOcv1, the most traded iron ore contract on China's Dalian Commodity Exchange (DCE) in September, closed at 824.5 yuan (113.56 USD) in daytime trading.
In summary, while the iron ore market shows significant improvements on the demand side, the decrease in stocks and fluctuations in the performance of steel producers continue to have an impact on prices.
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