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MMi Dashboard
www.mmiprices.com Page 1/6
Iron Ore Price Indices
Exchange Traded Contracts
Freight Rates Steel Price
Steel Price Inventory Levels
MMi Daily Iron Ore Index Report
10 1.54%April 9th, 2020
Iron Ore Port Stock (FOT Qingdao)IOPI62 62% Fe Fines RMB/t
661-13 -1.65%
April 9th, 2020
775
Iron Ore Port Stock (FOT Qingdao)IOPI65 65% Fe Fines RMB/t
-5 -0.88%April 9th, 2020
564
Iron Port Stock (FOT Qingdao)IOPI58 58% Fe Fines RMB/t
0.35 0.42%April 9th, 2020
83.90
Iron Ore Seaborne (CFR Qingdao)IOSI62 62% Fe Fines USD/dmt
0.30 0.30%April 9th, 2020
Iron Ore Seaborne (CFR Qingdao)IOSI65 65% Fe Fines USD/dmt
98.70-21 -2.44%
Week Ending April 3rd, 2020
838
Iron Ore Port Stock (FOT Qingdao)IOPLI 62.5% Fe Lump RMB/t
13.50 2.31%April 9th, 2020 (3pm close)
DCE Iron Ore 62% Fines
597.50I2009 (Sep) RMB/t (3pm close)
1.04 1.29%April 9th, 2020 (5.30 pm Print)
May'20 USD/dmt SGX Iron Ore (CFR Qingdao) 62% Fe Fines
81.8062.00 1.91%
April 9th, 2020 (3pm close)
SHFE RebarRB2010 (Oct) RMB/t
3306
0.12 1.15%
Aril 8th, 2020
10.59
C3, Tubarao - Qingdao USD/t
0.14 3.13%
Aril 8th, 2020
C5, W. Australia - Qingdao USD/t
4.48-100 -2.84%
Week Ending April 3rd, 2020
Steel Rebar (China Domestic) RMB/t
3420
-0.91 -0.84%Week Ending April 3rd, 2020
Iron Ore Inventory at Chinese Ports (35)million tonnes
106.86-1.38 -4.46%
Week Ending April 3rd, 2020
Steel Inventory in Chinamillion tonnes
29.59-150 -4.48%
Week Ending April 3rd, 2020
Steel HRC (China Domestic) RMB/t
3200
April 9th, 2020
April 9th, 2020
MMi Daily Iron Ore Index Report
IRON ORE PORT STOCK INDEX (IOPI)
IRON ORE PORT LUMP INDEX (IOPLI)
IRON ORE DOMESTIC CONCENTRATE SPOT PRICE ASSESSMENTS AND COMPOSITE INDEX
MARKET COMMENTARY Bullish sentiment led to higher quotes in the physical port stock market during the afternoon session. Total transactions declined over yesterday as some mills have already topped up their inventories. PBF traded at 645yuan/mt in Shandong and 655-660yuan/mt in Tangshan. Some traders held their prices firm in view of the growing demand for iron ore from domestic mills, There will be more iron ore available for Chinese mills as foreign mills continue to cut productions. According to SMM’s calculation, daily pig iron output reduction from steel mills in Japan, South Korea, India, Brazil, America, German and Russia by this week rose by 234,000 mt, with iron ore daily demand reducing by 390,000 mt.
COPYRIGHT METALS MARKET INDEX, ALL RIGHTS RESERVED
High Fe Grade 0.09%<P<0.115%High Fe Grade 0.115%<P<0.15%
Port Stock Index Product Differentials (RMB/wet tonne)Applicable range
1% Fe
High Grade Fe 60 - 63%High Grade Fe 63 - 64%High Grade Fe 64 - 65%High Grade Fe 65 - 65.5%
High Fe Grade Si <4%High Fe Grade Si 4-6.5%
Low Fe Grade 0.09<P<0.1%
Low Fe Grade1% Silica
Value Change3.25 0.003.00 0.253.00 0.253.00 0.25
1.75 0.250.75 -0.25
1.00 0.000.25 0.00
0.00 -0.250.50 -0.25High Fe Grade 0.115%<P<0.15%
High Fe Grade Al 2.25-4%
High Fe Grade 0.09%<P<0.115%
1% SilicaHigh Fe Grade Si <4%High Fe Grade Si 4 - 6.5%
0.01% Phosphorus
Applicable rangeSeaborne Index Product Differentials (USD/dry tonne)
1% Fe
High Grade Fe 60 - 63%
High Grade Fe 65 - 65.5%High Grade Fe 64 - 65%High Grade Fe 63 - 64%
1% Alumina
High Fe Grade Al <2.25%
Port Value Change Port Value Change Port Value Change Port Value ChangeBayuquan -45.00 0.00 Fangcheng -5.00 0.00 Lanshan 0.00 0.00 Qingdao 0.00 0.00Beilun 5.00 0.00 Jiangyin -30.00 0.00 Lianyungang 0.00 0.00 Rizhao 0.00 0.00Caofeidian -10.00 0.00 Jingtang -10.00 0.00 Majishan 0.00 0.00 Shekou 0.00 0.00Dalian -45.00 0.00 Lanqiao 0.00 0.00 Nantong -30.00 0.00 Tianjin -15.00 0.00
Port Stock Price Differentials to Qingdao Port for PB Fines (RMB/wet tonne)
April 9th, 2020
Price Change Diff to IOPI62
Roy Hill 623 10 -38SIMEC Fines 607 11 -54PB Fines 647 10 -14Newman Fines 660 10 -1MAC Fines 637 10 -24Jimblebar Blended Fines 587 3 -74Carajas Fines 773 -13 112Brazil ian SSF 657 -3 -4Brazil ian Blend Fines 670 3 9RTX Fines 631 15 -30West Pilbara Fines 629 10 -32
PORT STOCK INDEX (RMB/WT) April 9th, 2020
Price Change Diff to IOSI62
Roy Hill 79.41 0.36 -4.49SIMEC Fines 76.79 0.37 -7.11PB Fines 83.56 0.44 -0.34Newman Fines 85.21 0.36 1.31MAC Fines 80.14 0.97 -3.76Jimblebar Blended Fines 73.24 1.84 -10.66Carajas Fines 97.06 1.06 13.16Brazil ian SSF 85.46 0.66 1.56Brazil ian Blend Fines 86.59 0.54 2.69RTX Fines 78.89 1.69 -5.01West Pilbara Fines 77.51 0.36 -6.39
SEABORNE INDEX (USD/DMT)
COPYRIGHT METALS MARKET INDEX, ALL RIGHTS RESERVED
TOTAL IRON ORE INVENTORIES AT CHINA PORTS (MILLION TONNES) FUTURE TRADING—FRONT MONTH CLOSING PRICE
IRON ORE FUTURES CONTRACTS IRON ORE PORT INVENTORIES (MILLION TONNES)
IRON ORE INDEX PREMIUMS/DISCOUNTS
IRON ORE SEABORNE TO PORT STOCK PRICE SPREADS (USD/DMT) WEEKLY IRON ORE PORT STOCK LUMP PREMIUM (RMB/DMTU)
TOTAL CHINA IRON ORE IMPORT VOLUMES (MILLION TONNES) DRY BULK FREIGHT RATES (USD/MT)
MMi Daily Iron Ore Index Report
www.mmiprices.com Page 4/6
April 9th, 2020
April 9th, 2020
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
IOPI65 % Spread to IOPI62 IOPI58 % Spread to IOPI62
-40%
-30%
-20%
-10%
0%
10%
20%
30%
5-Ap
r-19
19-A
pr-1
9
3-M
ay-1
9
17-M
ay-1
9
31-M
ay-1
9
14-Ju
n-19
28-Ju
n-19
12-Ju
l-19
26-Ju
l-19
9-Au
g-19
23-A
ug-1
9
6-Se
p-19
20-S
ep-1
9
4-Oc
t-19
18-O
ct-1
9
1-No
v-19
15-N
ov-1
9
29-N
ov-1
9
13-D
ec-1
9
27-D
ec-1
9
10-Ja
n-20
24-Ja
n-20
7-Fe
b-20
21-F
eb-2
0
6-M
ar-2
0
20-M
ar-2
0
3-Ap
r-20
IOSI65 % Spread to IOSI62
-0.50
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
62.5% Fe Lump Premium over 62% Fines RMB/dmtu
-12
-10
-8
-6
-4
-2
0
2
4
6
8
10
IOSI65 Spread to IOPI65 Equivalent (5-day average)
IOSI62 Spread to IOPI62 Equivalent (5-day average)
100
105
110
115
120
125
130
135
140
60
70
80
90
100
110
120
130
400
500
600
700
800
900
1000
USD/
DMT
RMB/
tonn
e
Dalian 3pm Close SGX Front Month 6pm (RHS)
0
5
10
15
20
25
30
35
C5 - W. Australia - Qingdao C3 - Tubarao - Qingdao
Open positions ('000 lots) 63.82 2.69 4.41% 150.95 5.14 3.52%
Day Low 582.5 18.0 3.19% 80.56 1.77 2.25%
Day High 600.5 12.5 2.13% 82.25 1.39 1.72%
DCE (RMB/WMT) SGX (USD/DMT)
April 9th, 3.00 pm close April 9th, 5.30 pm
COPYRIGHT METALS MARKET INDEX, ALL RIGHTS RESERVED
CHINESE STEEL MILL PROFITABILITY
CHINESE STEEL MILL PROFITABILITY
STEEL SPOT MARKET PRICES—CHINA
MMi Daily Iron Ore Index Report
www.mmiprices.com Page 5/6
CHINESE STEEL MILL PROFITABILITY
CHINESE STEEL INVENTORIES
April 9th, 2020
April 9th, 2020
Steel Spot Market RMB/tonne
Product 3/4/2020 Change Change %
3,420.0 -100 -2.84%
3,560.0 -100 -2.73%
3,200.0 -150 -4.48%
3,680.0 -240 -6.12%
3,580.0 -90 -2.45%
4,010.0 -170 -4.07%
6,550.0 -50 -0.76%
GI ST02Z 1.0mm*1000*C
ReBar HRB400 ɸ18mm
Wirerod Q300 ɸ6.5mm
HRC Q235/SS400 5.5mm*1500*C
CRC SPCC/ST12 1.0mm*1250*2500
Medium & Heavy Plate Q235B 20mm
Colour Coated Plate
0
5
10
15
20
25
mill
ion m
t
Total Social Steel Inventory Total Steel Inventory at Steel Mills
0
200
400
600
800
1,000
1,200
RMB/
tonn
e
Rebar Profit for BOF Mill HRC Profit for BOF Mill
Category Price Change (WoW)
82.20 -4.05 Mmi CFR Equivalent index for 1st Feb
1,710 -50 2nd grade met coke, Tangshan, incl. tax
2,060 -120 steel scrap (6mm) in Zhangjiagang, exl. tax
2,843 -81 Q234, incl. tax
3,084 -74 calculated based on theoretical w eight, incl. tax
336 4 based on Shanghai prices, incl. tax
3,159 -82 based on actual w eight, incl. tax
41 -78 based on Shanghai prices, incl. tax
Note: 1. Costs in the table are caluclated based on todays market prices and facout our management, sales, financial and depreciations fees.
2. The cost refers to average cost in the industry based on SM M 's survey of small, medium and large mills in China
Hot-rolled coil cost - Blast furnace
Hot-rolled coil proft - Blast furnace
Rebar cost - Blast furnace
Rebar profit - Blast furnace
Note
MMi (Fe 62%), USD/mt exluding tax
Coke
Steel Scrap
Billet Cost
SMM Tracking of Steel Mill P&L - Rebar and Hot-rolled Coil (RMB/tonne)
CHINESE STEEL CONSUMPTION
CHINESE STEEL PRODUCTION
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 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 calculated 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: www.mmiprices.com
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 organisation 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