MMi Daily Iron Ore Index Report March 18 2019

Vale was requested to close its Timbopeba mine operations last Friday (Mar.15, 2019), and the DCE Futures market moved higher in response today. Physical iron ore port stock quotes rose by 10-15yuan/mt, whilst concluded deals were a touch higher. Wuan and Tangshan launched another heavy pollution weather warning along with continued production restraints, which prevent mills from actively purchasing iron ore. However, according to SMM, the shipments from Australia and Brazil in the beginning of March both dropped, which may prop up current prices.

Source: Metals Market Index (MMi)