Lump premiums rise, supported by healthy fundamentals

Lump premiums strengthened over the past week, underpinned by healthy fundamentals. Mysteel PORTDEX 62.5% Lump Premium increased by to 3.29% to Yuan 1.5752/dmtu, while the Mysteel SEADEX 62.5% Lump Premium rose by 3.40% to $0.1825/dmtu between July 24 and July 31.

Lump fundamentals remained healthy amid constrained supply and firm demand. Total arrivals of PBL and NML reached 2.22 million tonnes as of July 25, down 1.12% on-week. The decline in supply, combined with strong demand, supported higher lump consumption. Robust demand was mainly driven by elevated hot metal output,