MMi Daily Iron Ore Index Report January 17 2020

SMM data showed that iron ore stocks across 35 Chinese ports totaled 114.4 million mt as of January 17, up 650,000 mt from a week ago, but 15.82 million mt lower than a year ago. Daily average deliveries from the 35 ports increased 126,000 mt on a weekly basis to 2.92 million mt this week, mostly contributed by major ports in Shandong, Tangshan and the Yangtze River region. But deliveries from ports are likely to decline this week as trade turns subdued with the Chinese New Year just around the corner. DCE iron ore futures rose, transaction prices in the port stock market tended to be stronger given fewer active market players.

Source: Metals Market Index (MMi)