Monthly Iron Ore Market Report Jul 2019
2019-08-12 18:24:12 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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Prices of iron ore rose further in the first half of July as supply stayed tight in the spot market and steel mills in China maintained high operation rates. Later with environmental protection pressure increasing in Hebei and other North China provinces, more blast furnaces were forced to shut down. Iron ore demand decreased accordingly. And as import improved in July, iron ore inventory gradually increased at ports, depressing iron ore prices from rising further. The continually increasing inventory of steel products in China pushed down prices of steel products, and then forced steel mills to try lowering production costs. Prices of iron ore started moving down in the second half of July though supply was still a bit tight in the spot market. Insiders mostly believe iron ore prices would apparently decrease in August when iron ore supply will improve further.
