MMi Daily Iron Ore Index Report July 22 2019

The Tangshan government over the weekend announced new, reinforced control measures lasting from July 21 to 31, 2019. “A” classified mills require production cuts of 20% to their sintering and shaft furnace equipment. During the period of July 21 to July 25, mills with sinters and shaft furnace production in Fengnan, Guye, Kaiping, Lubei, Luanzhou, Luannan and Qi’an will be under production cuts of 70%. From July 29 to 31, 2019, mills in Fengrun, Qianxi and Zunhua will be required sintering and shaft furnace production cuts of 50%. These additional production cuts are expected to further restrain iron ore demand.

Source: Metals Market Index (MMi)