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MMi Daily Iron Ore Index Report April 11 2019

The physical iron ore spot market was once again stable to as some traders were reluctant to sell whilst the DCE Futures market exhibited further strength. Mills however were not interested in buying, especially following the early week restocking program. According to market players, Carajas Fines cost performance has improved since last month, and has seen robust demand. According to SMM however, compared with domestic concentrates price in Tangshan, Carajas Fines price remains under pressure. One mill in Tangshan say their tender price for 66% domestic concentrates is around 790-800yuan/mt with delivery, 13% VAT included, dry basis, which is competitive to Carajas Fines.

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Source: Metals Market Index (MMi)

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