Iron ore quotations in the physical port stock market declined by 15-20yuan/mt early this morning, while traders performed to be firm on their quotations gradually when DCE iron ore futures market recovered. PBF was concluded at 1365-1378yuan/ mt in Shandong market and that in Tangshan was 1360yuan/mt, a price hike of 5yuan/mt over yesterday. According to SMM, mills profits for rebar and HRC ascended to 522yuan/mt and 875yuan/mt, based on iron ore price of 205USD/mt, which promoted mills demands for mainstream medium products again. However, along with more and more steel mills started conducting maintenance in Jiangsu and Liaoning provinces, their purchasing enthusiasm fell off. Iron ore prices will still run under pressures.

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Source: Metals Market Index (MMi)