MMi Daily Iron Ore Index Report for May 18 2020
Bullishness boosted iron ore markets today, helped by soaring swaps and futures markets. Some traders that there were few enquiries today,
with mills only buying if desperately in need, so few physical trades concluded during the afternoon session. PBF in Shandong market traded at 705-710yuan/mt, in Tangshan market at715yuan/mt, up 25-30yuan/mt over last Friday. Although Tangshan and Qi’an city announced some production control policies from May 18 to May 31, 2020, there are no production cut for blast furnaces.
Source: Metals Market Index (MMi)