MMi Daily Iron Ore Report (Oct 23)

DCE iron ore futures market falling sharply trends，an decrease of 4.56% throughout the day; the main contract 2209 closed 868.5. the quotation in the morning was decreased by 20-30 yuan/mt from last Friday.

DCE iron ore futures rose largely，an increase of 2.15% throughout the day. the main contract 2209 closed 926.5. The spot quotation in the morning almost kept steady.

DCE iron ore futures market rose by 3.69%,the main contract closed 856, the quotation in the morning was increased by 10 yuan/mt over yesterday.

DCE iron ore futures market rose by 4.65%,the main contract closed 810. the quotation in the morning was increased by 10 yuan/mt over yesterday.

DCE iron ore futures rose largely today by 5.51%.the main contract closed 737.5. the quotation in the morning was increased by 20-30 yuan/mt over yesterday.

DCE iron ore futures market falling trends by 3.17% today.

DCE iron ore futures continued to fluctuate in a day, main contract closed707. The spot quotation in the morning quoted varied.

As of July 9, iron ore inventories across 35 ports tracked by SMM totalled 116.75 million mt, up 1.62 million mt from a week ago and 13.85 million mt from a year ago. Daily average deliveries from the 35 ports continued to increase, up 242,000 mt on a weekly basis to 2.63 million mt last week, which have recovered to normal level.

A total of 87 vessels carrying 14.52 million mt of iron ore arrived at major Chinese ports during November 15-21, SMM estimates. This was up 1.17 million from the previous week and 2.33 million mt from the same period last year. While arrivals in Shandong increased nearly 1.5 million on the week, there was a slight drop in the amount of iron ore arriving in Tangshan.

Sources said that 20%-50% of capacity will be cut in various parts of Tangshan between July 20-August 31