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MMi Daily Iron Ore Index Report April 30 2019

The physical iron ore port stock market remained bullish though the majority of market players have left for the May day holiday, hence the fewer transacted deals. As the traders are indeed bullish, some of them have been reluctant to sell, waiting for higher prices in early May. Mills have finished their restocking programmes. Sources say that today, Handan city announced a conclusion to its emergency response for heavy pollution weather. This may mean that mills demand for iron ore could increase following the holiday, potentially adding to the support
that iron ore currently has.

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Source: Metals Market Index (MMi)

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