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MMi Daily Iron Ore Index Report April 19 2019

As of April 19, iron ore stocks across 35 Chinese ports shrank 3.24 million mt from a week ago and 18.19 million mt from a year ago, and stood at 128.69 million mt, SMM statistics showed lower arrivals due to the tropical cyclone and high deliveries from ports accounting for the decline. Daily average deliveries from ports decreased 104,000 mt from the prior week to 2.54 million mt last week. Demand from steel mills remain strong. Today’s transactions picked though prices are relatively stable. Handan city announced an orange alert for heavy pollution, to last from April 20 to April 25, sintering capacity is heard to be cut by 50%. Tangshan city announced the implementation of emission reduction measures on sintering machines to last from April 19 to April 20, but as mills have sinter inventory in plants, it may have little impact on demand, SMM will follow up.

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Source: Metals Market Index (MMi)

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