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MMi Daily Iron Ore Index Report January 14 2021

DCE iron ore futures allied today whilst quotes in the physical port stock were relatively flat on yesterday. Mills showed little enthusiasm total concluded transactions were low. PBF traded at 1130-1140yuan/mt in Shandong. According to SMM, some mills in Tangshan shut their blast furnaces due to issues with coke availability. Due to a rise in COVID cases in Hebei, truckers are facing problems. Some insiders from Tangshan ports say that truck drivers from high-risk areas should prepare a nucleic acid testing report, and then can be allowed to entry into the ports. Considering the upcoming restocking in the second half of this January, iron ore prices may still enjoy certain support.

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Source: Metals Market Index (MMi)

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