MMi Daily Iron Ore Report (November 3)

DCE iron ore futures market falling trends by 1.45%. the main contract 2209 closed 885. The spot quotation in the morning almost kept steady.

DCE iron ore futures open lower and go higher, the main contract closed 707.

DCE iron ore futures market rose by 3.4%,the main contract closed 776.

DCE iron ore futures market falling trends by 2.03%. the main contract closed 722.

DCE iron ore futures rose largely today，the main contract closed 570.5，an increase of 6.84 % throughout the day. the quotation in the morning was increased by 10-20 yuan/mt over yesterday.

DCE iron ore futures market picked up over last Friday, but quotations in the physical port stock market declined by 15-20yuan/mt. Some traders adjusted their quotations up when DCE iron ore futures market vibrated upward, and PBF was closed at 1390yuan/mt, with price hike of 25yuan/mt over last Friday.

Iron ore quotations in the physical port stock market inched down gradually when DCE iron ore futures market vibrated vulnerably. Total transactions concluded to be insipid as mills remained on-demands procurements. PBF was closed at 1470-1480yuan/mt in Shandong market, with price falling of 10-20yuan/mt over last Friday, and that in Tangshan market declined by 25yuan/mt to 1470yuan/mt.

DCE iron ore futures market continued strong momentums and some traders in the physical port stock market tended to raise their quotations in the morning session. PBF was closed at 1460-1475yuan/mt in Shandong market, with price cut of 15-20yuan/mt.

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.