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MMi Daily Iron Ore Index Report September 25 2019

Physical iron ore port stock prices eased 5-10yuan/mt as traders were happy to cut offers due to slow demand from the mills . Tangshan was especially impacted, the strict production cuts gave rise to a sharp drop in iron ore demand. There were very few inquiries today. Deliveries from Tangshan ports were still restricted today. The supply of iron ore in the run up to National Day holiday, as well as after, is expected to rise. Thus iron ore prices may be under continued pressure up until the production cuts are eased.

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Source: Metals Market Index (MMi)

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