Physical port stock prices dropped heavily today as participants returned to the iron ore market following the recent public holiday in China.

MMi Daily Iron Ore Index Report June 26 2020

Most traders showed offers which were flat to Fridays numbers, though DCE futures softened throughout today.

The physical port stock prices for PBF in Shandong and Tangshan rose by 35-40yuan/mt today.

MMi Daily Iron Ore Index Report for May 26 2020

Physical port stock prices traded close to their Friday levels today. Some mills purchased as needed though concluded transac- tions were low.

SMM data showed that iron ore stocks across 35 Chinese ports totalled 100.45 million mt as of May 22, the lowest in nearly three years, down 1.33 million mt from a week ago and 17.84 million mt lower than a year ago.

DCE iron ore futures were bullish once again today. Traders continued to offer though mill demand was low. Traders remain optimistic that mills will be soon looking to buy more. Port stock inventories continue to decline.

The bullish iron ore market took its foot off the gas a little today, with concluded transactions down on yesterday.

A total of 88 vessels carrying 13.51 million mt of iron ore arrived at major Chinese ports during May 10-16, SMM estimates.

Bullishness boosted iron ore markets today, helped by soaring swaps and futures markets. Some traders that there were few enquiries today,

SMM data showed that iron ore stocks across 35 Chinese ports totalled 101.79 million mt as of May 15, down 1.18 million mt

The iron ore market continued to be bullish today, and some traders increased their quotes by 5-10yuan/mt in the physical port stock market.

Despite a strong showing in the DCE iron ore futures market today, mills were less willing to accept the rising prices.

A total of 91 vessels carrying 14.05 million mt of iron ore arrived at major Chinese ports during May 3-9, SMM estimates.