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MMi Daily Iron Ore Index Report December 16 2019

A volatile trading day in both physical iron ore port stock and DCE iron ore futures markets. PBF traded at 665-668yuan/mt in Shandong, down 5-10yuan/mt over last Friday, whilst trading was restricted in Tangshan as deliveries are still not be allowed due to the alert for heavy pollution. Transactions between traders were active and as recent production limits in Tangshan, Anyang and Shanxi provinces turned out to be stricter than expected, some mills preferred to stand on the side-line for the time being. However, SMM believe iron ore prices could still be bullish around New Years, on account of mills restocking demands before the Chinese Lunar New Year holiday.

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Source: Metals Market Index (MMi)

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