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MMi Daily Iron Ore Index Report February 19 2021

As of February 19, iron ore inventories across 35 ports tracked by SMM totaled 119.85 million mt, an increase of 1.96 million mt from pre-CNY level and 8.16 million mt year-on-year. The increase was contributed by some ports in Shandong, Tangshan and Yangtze River region. Daily average deliveries from the 35 ports decreased 352,000 mt from pre-holiday level to 2.62 million mt this week due to decline across major ports during CNY. Daily average deliveries from Jingtang Port declined 96,000 mt to 300,000 mt as Tangshan intensified heavy pollution control measures during CNY. The daily average deliveries from ports are expected to gradually pick up as some steel mills plan to increase inventory after the holiday.

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Source: Metals Market Index (MMi)

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