MMi Daily Iron Ore Index Report February 27 2019

The majority of traders maintained their current physical iron ore port stock quotes though felt pressure from the mills. Total transactions were thus low today. According to SMM, downstream demand for steel is building very slowly and therefore weather is likely to be stricter as the National People’s Congress and the Chinese Political Consultative Conference (NPC&CPPCC) approach and therefore mills are cautious in regards to buying iron ore. The seaborne market has sparked into life, though most trades are being done on a floating basis as uncertainty on future price direction persist.

Download PDF

Source: Metals Market Index (MMi)