MMi Daily Iron Ore Index Report March 28 2019

As heating season production cuts are going according to their original plan, SMM conducted mill research on current and future production plans. They concluded that some North China mills summited their application to resume production and that some mills’ production cuts have already been removed. However, they are facing non-heating seasons cuts, with details as of yet unknown. In Central China, some mills have restarted production in the past few days, and their demand for iron ore will thus increase in April. Some market players have already changed their VAT pricing to reflect the new levels and thus port stock trading was relatively chaotic today.

Source: Metals Market Index (MMi)