MMi Daily Iron Ore Report (July 07)

DCE iron ore futures fluctuated narrowly in the morning while rose largely in the afternoon; the physical port quotations tend to be stable over yesterday, but part of traders increased their quotations gradually with increasing DCE futures. Some steel mills’ inquiry enthusiasm has slightly improved due to upward steel price. PBF at Shandong port dealt 1515-1525yuan/mt. Other low grade iron ore also showed an active trend today.