MMi Daily Iron Ore Index Report March 04 2019

Iron ore DCE Futures market dropped following an early morning move higher though the mid-grade physical port stock transaction prices kept stable, although quotes early in the morning pulled rose by 10-15yuan/mt. Traders say the majority mills made tentative inquiries and there were few concluded transaction. According to SMM, from Mar.3 to Mar.31, about 14 mills with 22 blast furnaces were told to shut down . Mill demand for iron ore may drop off, which could cause a drag iron ore prices. However, as a production cut is beneficial to steel prices, the slow down in prices may prove to be temporary.

Source: Metals Market Index (MMi)