Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report August 13 2019

MMi Daily Iron Ore Index Report August 13 2019

Six steelmakers in China’s Shandong province today agreed to cut production of around 400,000 mt steel products including rebar and wire rod, supporting both physical and futures markets. According to SMM, prices of Shandong steel prices climbed 50 yuan/mt on the back of the news though details about the production cut plan remain unclear so far. As cuts are expected to cut iron ore demand, the iron ore market continued to fall. Some traders are unwilling to enter the market and steel mills have been forced to buy due to the low ore inventories at the plants. Total transactions concluded rose today, providing some slight support to pricing.

Download PDF

Source: Metals Market Index (MMi)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping