MMi Daily Iron Ore Index Report January 15 2021

As of January 15, iron ore inventories across 35 ports tracked by SMM totaled 118.12 million mt, an increase of 1.22 million mt from the
previous week and 3.72 million mt year-on-year. Daily average deliveries from the 35 ports decreased 52,000 mt on a weekly basis to 2.69
million mt this week. Transport disruptions due to the pandemic in Hebei caused deliveries from some northern ports to decline slightly. Steel mills in Shandong slowed down purchases slightly, causing local port inventory to increase slightly. Deliveries from ports in the Yangtze River region dropped slightly as steel mills restocked as needed amid firm iron ore prices. Stockpiling by steel mills has slowed down as the pandemic has disrupted raw material transport in some regions.

Source: Metals Market Index (MMi)