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MMi Daily Iron Ore Index Report January 03 2019

Iron ore physical port stock prices were relatively volatile today as traders were happy to move inventory. Steel mills were active, their purchasing enthusiasm continuing to grow to build up their inventories. Mills in Xuzhou resumed production following the New Year Holiday and now about six blast furnaces are expected to produce liquid iron in the next few days, helping to push demand for iron ore in East China higher. Seaborne iron ore activity has picked up, with a few transaction starting to flow into the market, though sentiment remains uncertain.

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Source: Metals Market Index (MMi)

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