MMi Daily Iron Ore Index Report May 08 2019

The physical iron ore port stock market slowed today following yesterdays excitement. Despite this, some traders are still relatively positive and they showed little intention to cut their offers. There are other traders preparing to buy as they see value in these current prices. Benefitting from current profits margins, mill demand is still robust though some choose to hold back from buying given the current high prices of iron ore. Iron ore prices may have to brace against increasing bearish pressure given the recent accumulation of iron ore due to new arrivals and shipments from Australia and Brazil.

Source: Metals Market Index (MMi)