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MMi Daily Iron Ore Index Report February 13 2019

According to SMM, some mills are looking to see how far lower iron ore will go before com- mitting to new purchasing programs. However, in East China, mills are forced to buy due to their relatively low pre-holiday restocking activities. In North China, traders are confident they’ll be able to make some margins as they believe some clients are short iron ore over the next two week. Prices for low-grade products remain firm as margins narrow. According to SMM, mills profits for rebar have dropped around 100yuan/mt compared with that before the holiday.

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Source: Metals Market Index (MMi)

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