Iron ore physical port stock prices remained flat when DCE iron ore futures market continued vulnerable tendency. Traders performed to be firm than last week and some refused to offer further concessions on the prices. Some mills conducted on- demands procurements and total transactions remained insipid. PBF in Shandong market was closed at 1000-1010yuan/mt, with price decline of 8-15yuan/mt, and that in Tangshan market dropped by 7-12yuan/mt to 998yuan/mt. SSF was closed at 700yuan/mt in the port stock market, and dropped by 5-15yuan/mt over last Friday. As some steel mills’ maintenance gradually finished, and iron ore demands in the short run kept relatively stable, but in consideration of the accumulated iron ore inventory at ports, iron ore prices may still run under pressures.

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Source: Metals Market Index (MMi)