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MMi Daily Iron Ore Index Report February 15 2019

Significantly higher prices of seaborne iron ore after the Vale accident in Brazil deterred buyers from making purchases. Some mills made small purchases later in the week when the prices retreated from highs. This grew iron ore deliveries leaving ports in Tangshan in the second half of this week. Steel mills made limited spot iron ore purchases this week as some worked through existing inventories at ports. Mills that relied on spot cargoes are expected to start to purchase next week, which would bolster iron ore deliveries from ports.

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Source: Metals Market Index (MMi)

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