Market Verdict on Iron Ore：
· Iron ore short-run neutral.
Macro
· The general office of the CPC Central Committee and the general office of the State Council proposed to crack down on illegal securities activities in accordance with the law, strictly investigate the legality of the sources of securities investment funds, and strictly control the leverage ratio.
· Clarkson data indicated June global new ship orders at 4.15 million tonnes CGT(131 vessels), Korea contributed 44% at 1.82 million tonnes CGT.
· According to the statistics of 26 excavator manufacturers from China Construction Machinery Industry Association, 23,100 excavators were sold in June 2021, a year-on-year decrease of 6.19%; Among them, there were 16,965 sets in China, with a year-on-year decrease of 21.9%; 6,135 sets were exported, with a year-on-year increase of 111%. From January to June, 223,833 excavators were sold, with a year-on-year increase of 31.3%; Among them, 193,700 sets were in China, with a year-on-year increase of 24.3%; 30,133 sets were exported, with a year-on-year increase of 107%.
Iron Ore Key Indicators:
· Platts62 $222.00, +0.60, MTD $219.88.
· MySteel Australia and Brazil iron ore total delivery at 24.91 million tonnes, down 2.82 million tonnes w-o-w. Australia iron ore delivery 18.1 million tonnes, down 1.71 million tonnes w-o-w. Australia delivery to China 15.58 million tonnes, down 22,000 tonnes w-o-w. Brazil iron ore delivery 6.81 million tonnes, down 1.105 tonnes w-o-w.
·
SGX Iron Ore 62% Futures& Options Open Interest (Jul 6th)
· Futures 75,512,700 tonnes(Increase 661,500 tonnes)
· Options 76,364,900 tonnes(Increase 1,336,500 tonnes)
Steel Key Indicators
· Ganggu Construction Steel Inventory: production 2.595 million tonnes, up 5,900 tonnes w-o-w. Mills inventory 1.066 million tonnes, up 42,000 tonnes w-o-w. Circulation inventory 3.589 million tonnes, up 27,900 tonnes w-o-w.
