Iron ore import arbitrage expected to widen amid recovery in downstream demand

Iron ore import arbitrage initially widened and then narrowed this week. As of March 20, PBF arbitrage reached Yuan -5.7/tonne, unchanged from its price on March 13.

Over the past week, seaborne daily transaction volumes rose by 13.27% on-week to 1,030.8 thousand tonnes per day, while portside volumes increased 59.20% to 984.8 thousand tonnes per day. This was mainly due to the recovery in steel demand and hot metal output, leading to increased on-demand purchases at