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MMi Daily Iron Ore Index Report December 21 2020

Wow. Records are tumbling. Physical iron ore port stock prices for PBF boomed, up around 100yuan/mt over last Friday. DCE iron ore futures market once again recorded new highs. PBF in Shandong closed at 1150yuan/mt for pre-sale. The DCE announced over the weekend that both the transaction volumes and positions of DCE iron ore futures market declined over last year, and there was no large-scale capital speculations in the market. These announcements only served to further stimulate bullish sentiment in the market. Prices for steel products increased as well, some mills were forced to cover demand; traders became more active. As some mills plan to restock in the next few weeks, the port stock market prices may still have room to break more records.


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Source: Metals Market Index (MMi)

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