Home / Commodities / Chinese iron ore and steelmaking prices / MMi Daily Iron Ore Index Report July 05 2019

MMi Daily Iron Ore Index Report July 05 2019

The DCE Iron ore futures market plummeted once the vice-chairman of CISA stated that a national department will investigate the sharp rise in iron ore prices as well as crack down the price monopoly. An iron ore work group has also been set up, led by the large Chinese steel mills to investigate iron ores . As of July 5, iron ore stocks across 35 Chinese ports shrank 880,000 mt from a week ago and 34.72 mil lion mt from a year ago, and stood at 105.8 million mt, SMM statistics showed. The decline, caused by low arrivals, continued to slow. Daily aver age deliveries from the 35 ports dropped 27,000 mt from a week ago and 35,500 mt from a year ago, and stood at 2.57 million mt last week. Low in -plant inventories drove steel mills outside Tangshan to restock as needed. Volatile prices of iron ore prompted some steel mills to delay purchases. Daily average deliveries are expected to change little this week as output controls in the north remain in place. Output cuts across steel mills in Tangshan kept daily average deliveries from Caofeidian port and Jingtang port at lows of some 250,000 mt.

Download PDF

Source: Metals Market Index (MMi)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping