MMi Daily Iron Ore Index Report October 21 2019

According to SMM, iron ore deliveries from Tangshan ports have been very low the past three days due to the transportation ban along with mill the production restrictions between 18-22. As a result, iron ore daily deliveries from Jingtang ports averaged around 40,000mt between October 18-20, 2019. Iron ore port stock quotes was quite stable, though some PB Fines was heard traded in the late afternoon at 680yuan/mt, up 5-10yuan/mt over last Friday. Mill inquiries in Tangshan perked up today and demands may possibly rise if there are no further productions. However, as iron ore inventories have risen at the main ports, there is still some bearishness in the market in regards to price direction.

Source: Metals Market Index (MMi)