Iron Ore Market Report January 2016
2016-02-04 18:53:06 【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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Downstream steel mills kept rebuilding stocks for the coming Spring Festival in the month and prices of imported iron ore went upward very quickly early. While the inventory of imported at Chinese ports dropped further and the shipment was expected to decrease from Australia and Brazil due to the weather condition and port maintenance, global iron ore market was supported to move upward. But entering the second half of the month, imported iron ore prices dropped again with the supply at ports gradually increasing to record high level in past seven months. By the end of the month, imported iron ore prices went stable after most buyers left the market for holiday. Meanwhile, China’s domestic iron ore price kept moving downward due to decreasing sales as a result of low procurement from steel mills. Insiders are not optimistic yet about downstream steel market in February but with import decreasing as a result of the holiday, prices of imported iron ore may stay firm for a while before the market activity warms up again.
