MMi Daily Iron Ore Index Report May 23 2019

Some traders remained active today as they are still relatively positive on the iron ore market. The higher costs of seaborne arrivals were preventing traders selling at low prices and therefore the total concluded transactions today were up. On the other hand, there are still some mills who were cautious as iron ore prices keep moving higher. They prefer to wait until next week to see if prices were still to be moving higher. According to SMM, some mills have already increased their demand for domestic concentrates given its better cost performance.

Source: Metals Market Index (MMi)