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MMi Daily Iron Ore Index Report August 27 2019

According to SMM, September iron ore demand in Tangshan is expected be down by around 3.58 million mt based on the new production cuts published yesterday. Iron ore demand was cut in August by 4.32 million mt . Arrivals of seaborne iron ore at Chinese ports shrank last week, though the week before were boosted by delayed vessels due to a typhoon. SMM estimates that 85 vessels carrying 13.19 million mt of iron ore arrived at major Chinese ports during August 18-24, down 1.22 million mt from the week ended August 17. Last week, iron ore deliveries leaving Australian ports decreased 2.24 million mt from the prior week to 12.32 million mt due to port maintenance. Shipments that left Brazilian ports resumed to levels of the same period a year ago, as they rose 1.18 million mt on the week to 8.54 million mt.

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Source: Metals Market Index (MMi)

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