MMi Daily Iron Ore Report (Mar 18)

Vale was requested to close its Timbopeba mine operations last Friday (Mar.15, 2019), and the DCE Futures market moved higher in response today.

Notice: Qingming Festival holiday

SMM offices will close from April 5-7

SMM Evening Comments (Mar 18)

SMM Evening Comments

Weak market to extend decline in operating rates of prebaked anode plants in Mar

Operating rates across China’s prebaked anode producers averaged 57.97% in Feb, down 0.99 percentage point from Jan

Operating rates at scrap-using copper rod producers fall for 4 consecutive months

Rates fell 5.83 percentage points from Jan to stand at 44.47% in Feb

Data: SHFE, DCE market movement (Mar 18)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Monday Mar 18, 2019

Production of ternary materials to rebound after falling 5% in Feb

A shorter month, output cuts for some regular specifications accounted for the month-on-month decline in Feb

China's steel bar output rises 10.9% YoY in Jan-Feb: NBS

Domestic production of medium-sized steel belt and strip increased 12.1% year on year

Power supply control impacts production of high-carbon ferrochrome in Inner Mongolia

This is likely to impact output by 1,200 mt