Daily Iron Ore Index Report July 31, 2018 IRON ORE PORT STOCK INDEX (IOPI) The physical iron port stock saw relavely quiet trading the morning today, as the DCE iron ore futures market traded in a narrow range. Some traders disclosed that they remain opmisc on prices unl mid-August, as the rebar inventory connue to decline and provide support to the steel market. However, mill stock in plants have al- ready risen to levels seen at the beginning of this year, and this may slow purchases. MARKET COMMENTARY www.mmiprices.com Page 1/4 July 31, 2018 IRON ORE DOMESTIC CONCENTRATE SPOT PRICE ASSESSMENTS AND COMPOSITE INDEX IRON ORE FUTURES CONTRACTS IRON ORE PORT INVENTORIES FREIGHT RATES IRON ORE HIGH/LOW GRADE PREMIUM/DISCOUNT PLATFORM TRADES AND TENDERS 61% Fe Fines sells at US$65.89t for 190,000t, 15 –24 Aug LAYCAN 62% Fe Fines sells at US$67.40t for 170,000t, 20 –249 Aug LAYCAN IRON ORE HIGH/LOW GRADE PREMIUM/DISCOUNT COPYRIGHT METALS MARKET INDEX, ALL RIGHTS RESERVED IRON ORE PORT INDEX, FOT QINGDAO (RMB/WT) BLOOMBERG FOT Qingdao (RMB/wet tonne) CFR Qingdao Equivalent (USD/dry tonne) IOPI62 IRCNQ001 IRCNQ004 IOPI58 IRCNQ002 IRCNQ005 IOPI65 IRCNQ003 IRCNQ006 BLOOMBERG TICKERS ¹ Exchange rate applied: RMB/USD = 6.8165 ² Since March 1 ³ Weekly exchange rate applied: RMB/USD 6.7826 ⁴ Last 12 months Province This week Change % Low⁴ High⁴ Jingtang 17.10 -0.58% 14.11 19.00 Qingdao 19.00 4.40% 15.60 19.97 Caofeidian 18.60 -0.11% 16.62 25.30 Tianjin 9.80 7.69% 8.35 11.00 Rizhao 17.53 -3.04% 13.10 19.00 Total (35 Ports) 140.34 0.52% 123.49 150.04 Week Ending July 27, 2018 (million tonnes) Province Region Product Basis This week Change % Low ² High ² This week Change % Low ² High ² Hebei Hanxing 66% Fe Concentrate Dry 610 1.5% 579 682 89.94 0.3% 85.37 100.55 Hebei Qian'an 65% Fe Concentrate Dry 690 1.5% 630 710 101.73 0.3% 92.88 104.68 Liaoning Anshan 65% Fe Concentrate Wet 465 -2.1% 445 550 68.56 -3.2% 65.61 81.09 Shandong Zibo 65% Fe Concentrate Dry 660 0.0% 620 690 97.31 -1.2% 91.41 101.73 USD/tonne (excluding tax) ³ Week Ending July 27, 2018 RMB/tonne (excluding tax) This week Change % Low ⁴ High ⁴ 561.85 0.6% 534.50 628.33 Week Ending July 27, 2018 China Mines Concentrate Composite Index RMB/WT July 30, 2018 Route Designation Change Change % Low ⁴ High ⁴ W. Australia - Qingdao C5 9.54 0.20 2.14% 5.109 9.982 Tubarao - Qingdao C3 23.42 0.59 2.57% 12.705 23.418 FREIGHT RATES - DRY BULK US$/wet tonne Index Fe Content Price Change Change % MTD YTD Low ² High ² Price Change Change % MTD YTD Low ² High ² IOPI62 62% Fe Fines 504 -1 -0.2% 482 478 443 559 65.43 -0.17 -0.3% 63.41 65.40 61.36 77.89 IOPI58 58% Fe Fines 363 1 0.3% 349 332 304 376 46.05 0.11 0.2% 44.86 44.05 40.67 50.97 IOPI65 65% Fe Fines 687 19 2.8% 638 600 541 690 90.59 3.43 3.9% 85.29 82.98 75.83 97.10 July 31 2018 FOT Qingdao (inc. 16% VAT), RMB/wet tonne CFR Qingdao Equivalent (exc. 16% VAT), USD/dry tonne ¹ 200 250 300 350 400 450 500 550 600 650 700 2-Apr-18 9-Apr-18 16-Apr-18 23-Apr-18 30-Apr-18 7-May-18 14-May-18 21-May-18 28-May-18 4-Jun-18 11-Jun-18 18-Jun-18 25-Jun-18 2-Jul-18 9-Jul-18 16-Jul-18 23-Jul-18 30-Jul-18 IOPI62 IOPI58 IOPI65 -40% -30% -20% -10% 0% 10% 20% 30% 40% % Spread to Benchmarks IOPI65 % Spread to IOPI62 IOPI58 % Spread to IOPI62 Spread to IOPI62 % Spread to IOPI62 -141 -27.98% 183 36.31% July 31 2018 PORT STOCK INDEX (RMB/WT) Fe Content 58% Fe Fines 65% Fe Fines Closing Date Contract I1809 Change Change % Aug'18 Change Change % Closing Price 488.0 -0.5 -0.10% 67.75 0.50 0.74% Vol traded ('000 lots) 71.38 -68.6 -48.99% 13.00 8.44 185.40% Open positions ('000 lots) 71.67 -7.3 -9.23% 104.62 -1.24 -1.17% Day Low 486.5 2.5 0.52% 67.41 0.85 1.28% Day High 489.5 0.5 0.10% 67.76 -0.90 -1.31% DCE SGX 31 July 3pm close 31 July 6pm
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Daily Iron Ore Index Report July 31, 2018
IRON ORE PORT STOCK INDEX (IOPI)
The physical iron port stock saw relatively quiet trading the morning today, as the DCE iron ore futures market traded in a narrow range. Some traders disclosed that they
remain optimistic on prices until mid-August, as the rebar inventory continue to decline and provide support to the steel market. However, mill stock in plants have al-
ready risen to levels seen at the beginning of this year, and this may slow purchases.
MARKET COMMENTARY
www.mmiprices.com Page 1/4 July 31, 2018
IRON ORE DOMESTIC CONCENTRATE SPOT PRICE ASSESSMENTS AND COMPOSITE INDEX
IRON ORE FUTURES CONTRACTS IRON ORE PORT INVENTORIES
FREIGHT RATES
IRON ORE HIGH/LOW GRADE PREMIUM/DISCOUNT PLATFORM TRADES AND TENDERS
61% Fe Fines sells at US$65.89t for 190,000t, 15 –24 Aug LAYCAN
62% Fe Fines sells at US$67.40t for 170,000t, 20 –249 Aug LAYCAN
IRON ORE HIGH/LOW GRADE PREMIUM/DISCOUNT
COPYRIGHT METALS MARKET INDEX, ALL RIGHTS RESERVED
Medium & Heavy plate A-level Shipe plate 12-25mm 0% 610 0
Galvanised ST02Z/SGCC 1.0mm -13% 690 0
Note: Calculation formula for converting export prices of rebar, co ld-ro lled steel and galvanizing into prices in China’s spot
market = FOB* exchange rate*1.16/(1.16-0.13); Calculation formula for converting export prices of wire rod and hot-ro lled steel into
prices in hina’s spot market = FOB* exchange rate *1.16/(1.16- 0.09); Calculation formula for converting export prices of medium-
thick plate into prices in China’s spot market = FOB* exchange rate
China Export Prices USD/tonne
Product 7/27/2018 7/20/2018 Change Change %
Rebar 4,550 4,584 -34 -0.74%
Wirerod 1,179 1,197 -18 -1.50%
Hot-rolled Coil 2,145 2,133 12 0.56%
Medium & Thick Plate 954 914 40 4.38%
Cold-rolled Coil 1,180 1,214 -34 -2.80%
Total 10,008 10,042 -34 -0.34%
Steel Inventories³ (unit: 1000 tonnes)
³ SM M statistics cover inventories of major steel products in China’s major markets: hot-
ro lled steel inventories in 33 major cities; rebar and wire inventories in 35 major cities; co ld-
ro lled steel and medium-thick plate inventories in 31 major cities.
0
5
10
15
20
25
USD
/mt
C5 - W. Australia - Qingdao C3 - Tubarao - Qingdao
IRON ORE INDEX SPECIFICATIONS, COMPILATION RATIONALE AND DATA EXCLUSIONS
The compilation method for price index generally refers to the compilation method of CPI price index and other price indices, breakdown the price data and calculate the average value according
to a certain method, taking the vertical axis as the regional composite index (average of different grade index) and the horizontal axis as the grade composite index (average of different regional
index), a total composite index for domestic ore can be output ultimately. The process system is also adopted in the calculation i.e. each sub-index can be obtained as well.
IRON ORE DOMESTIC CONCENTRATE INDEX CALCULATION METHODOLOGY
MMi iron ore port stock indices are compiled from data provided by companies that are part
of the iron ore supply chain and involved in spot market transactions. The indices are calculat-
ed using detailed transaction-level data submitted to MMi by these companies. This data is
normalised to the appropriate specifications and screened to remove outliers before volume-
weighted average prices are calculated from the remaining core set of data.
For more details on MMi's iron ore methodology please download the guide published on our
website at:
Data Exclusions*
Port Index: 0
* Number of price submissions for iron ore indices that were excluded from index calculations
today as they were anomalous and could not be verified
This information has been prepared by Metals Market Index ("MMi"). Use of the information presented here is at your sole risk, and any content, material and/or data presented or otherwise
obtained through your use of the information in this document is at your own discretion and risk and you will be solely responsible for any damage to you personally or your company or organi-
sation or business associates whatsoever which in anyway results from the use, reliance or application of such content material and/or information. Certain data has been obtained from various
sources and any copyright existing in such data shall remain the property of the source. Except for the foregoing, MMi retains all copyright within this document. The copying or redistribution of
any part of this document without the express written authority of MMi is forbidden.