Monthly Iron Ore Market Report May 2018
2018-06-12 14:59:57 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
Iron ore demand was not very active in May as the environmental protection pressure was still high in the month and steel mills in many areas, especially in Xuzhou of Jiangsu, were still forced to cut or even halt production. But in the meanwhile, supply was also hampered especially in Shandong where the coming Shanghai Cooperation Association summit to be held in Qingdao in early June influenced delivery of imported iron ore at Shandong ports. As a result of rebounding prices of downstream steel products, steel mills also accepted relatively higher prices of both domestic iron ore and imported iron ore. But depressed by the huge inventory of imported iron ore at Chinese ports, prices of iron ore fines in overseas market slumped much in the second half of the month. As the high environmental protection pressure would continue in June, most insiders are not very optimistic about iron ore demand and does not expect its price to increase much from current level though profits of downstream steel mills may remain high due to restricted production.
