Latest Update in the China Iron Ore Market

According to SMM survey on the domestic major aluminium processing enterprises, their operating rates will vary during the National Day holiday, depending on their orders. Most of the small and medium-sized enterprises will close for 3-7 days for the holiday, while larger ones will take a shorter or even no break.

DCE iron ore futures rose by 0.07% today, the main contract closed 721.5.Few transactions in the market.

DCE iron ore futures rose by 0.77% today, the main contract closed 722.5. The enthusiasm of the traders for shipment is fair, and the steel mills are mainly wait-and-see, with few transactions in the market.

 Steel mills issued bids for SiMn alloy before the National Day holiday due to recovering end demand and low SiMn alloy inventory.

Approaching the National Day holiday, many mainstream steel mills set the bid price of high-carbon ferrochrome for October, which was lower than the market's previous expectations.

Before the National Day holiday, the bears of macro front were paid off. The iron ore futures prices rebounded slightly due to the improvement in fundamentals, and the spot prices of iron ore continued to rise.

SHANGHAI, Sep 29 (SMM) - According to SMM survey, while the National Day holiday is just a few days away, the pre-holiday stocking activities in the two major stainless steel spot markets have fallen short of expectations.

Before the National Day holiday, domestic EMM prices rose slightly.