MMi Daily Iron Ore Index Report for May 25 2020
Physical port stock prices traded close to their Friday levels today. Some mills purchased as needed though concluded transac- tions were low.
PBF traded at 730-735yuan/mt in Shandong and 740 yuan/mt in Tangshan. Some traders remain bullish and were unwilling to cut their offers. Although mills operating rates continued to rise, their limited demand for material has for now halted the rising prices at the ports. Considering the current relatively tight supply for some mainstream products, iron ore prices still has good support. Iron ore price volatility is likely to continue.
Source: Metals Market Index (MMi)