MMi Daily Iron Ore Index Report June 25 2019

Iron ore DCE Futures market kept declining tendency, Physical iron ore port stock quotes eased a touch today, broadly in line with a weakening DCE futures market. Most traders tried to hold their offers firm, especially given the current supply tightness. Traders from Tangshan say as the current tradeable iron ore inventory belongs to fewer market players, they are trying to avoid any bearish behaviour. As for mills, SMM learned some mills in Shandong market continued to reduce their plant inventory, , while in Tangshan , some mills started implementing some production cuts. Along with the implementation of the production restrictions in Tangshan, Wu’an and Anyang, mills purchasing may start to ebb. The overall trading atmosphere at the port side looks to be turning bearish.

Source: Metals Market Index (MMi)