And here is the commentry from MMi
CE futures were bullish, the main contract I2105 rose by more than 2.9% today. Physical iron ore price quoted higher by more than 10-15 yuan/mt during the morning trading session. Few steel mills purchased today and market transactions were low. PBF at Shandong and Tangshan ports traded around 1100-1105 yuan/mt, an increase of about 10-15yuan/mt from last Friday. Some steel mills in Hebei stated that their truck transportation has recovered this week, previously down due to COVID-19 in a local city, so their demand for iron ore will be expected to return to normal. However, on Sunday, Tangshan again launched a new level II heavy pollution emergency notice that means some blast furnaces and sinter mills are expected to cease producing. It is expected that the pig iron production in Tangshan will be lower, and with spring festival approaches, imported iron ore market may run within a narrow range this week
Steady as she goes!
Iron ore price, page-27943
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