MMi Daily Iron Ore Index Report November 30 2020
Despite new anti-pollution procedures enacted in Tangshan and Handan over the weekend, DCE iron ore futures hit a year 2020 high today.
Traders in the physical port stock market raised their quotes, and PBF traded around 895-900yuan/mt. Mill demand for medium and high grade iron ore products may remain high as coke prices in Shandong, Shanxi and Hebei provinces have risen for the eighth successive time. Some mills in North China say their recent pellet demands have declined due to the high pellet premium and the tight supply in the port stock market. Lump demand and that for the mainstream iron ore products for is expected to continue at their current high levels.
Source: Metals Market Index (MMi)