MMi Daily Iron Ore Index Report January 24 2019

Despite a strong showing in the onshore and offshore futures markets, physical demand for iron ore at port continues to fall away. Trader activity picked up somewhat, as some are looking to big up some bargains in advance of the expected demand that they believe will come post CNY. According to SMM, mills in North China are likely to finish their purchase programs this week, and the average inventory at the mill site has increased by 4-5 days from early January.

Source: Metals Market Index (MMi)