MMi Daily Iron Ore Index Report July 25 2019

Port iron ore transactions picked up today, as mills accelerated their buy programmes. According to SMM, some mills in East China are relatively bearish on market direction and as such, have no intention to increase their iron ore inventory for this moment. The Tangshan government reaffirmed their production policy requiring the sintering machines and shaft furnace for all mills in Tangshan to shut down and keep their blast furnaces warm but prohibit any production from July 26 to July 28. Mills classified “A” were just required to cut off 20% of their sintering machine and shaft furnace capacity. Deliveries from Caofeidian are still forbidden.

Source: Metals Market Index (MMi)