Market Verdict on Iron Ore：
· Iron ore short-run neutral.
Macro
· U.S. Dollar reached the highest since last November on last Friday. Dollar entered a strong cycle.
Iron Ore Key Indicators:
· Platts 62% 139.10 (+8.90), MTD 163.36.
· Jan -Jul China recycled iron and steel imported 420,500 tonnes. Major import from Japan.
SGX Iron Ore 62% Futures& Options Open Interest (Aug 20th)
· Futures 81,866,200 tonnes(Decrease 463,600 tonnes)
· Options 80,217,800 tonnes(Increase 752,500 tonnes)
Steel Key Indicators
· Steelbank construction steel inventory 7.63 million tonnes, up 0.44% w-o-w. HRC inventory 2.76 million tonnes, down 0.35% w-o-w.
· ShaGang Group decreased rebar by 150 yuan/tonne in August at 5350 yaun/tonne
· China CISA indicated AnGang Group and BenSteel merging would become the fifth biggest iron ore miner to produce 50 MTPA pellitising iron ores. The new company would also become the third largest steel making company over the world, estimated to produce 55.55 million tonnes of crude steel.
Coal Indicators
· Mongolia Port Ganqimaodu closed from this Monday and last two weeks to chasing the original case of the pandemic last round. 