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MMi Daily Iron Ore Index Report February 20 2019

Despite falling medium-high grade iron ore prices at port, mills have been reluctant to enter the market. However, according to SMM, inventory at the mill sights have reduced by 5 days when compared to pre-holiday levels. Thus, some traders still choose to hold their offer levels firm. FMG announced their March discount, so FMG Blended Fines has been reduced to 7% from 22% and that for SSF has been reduced to 16% from 33%, leading some to believe the cost performance for low grade products may soon fall away.

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Source: Metals Market Index (MMi)

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