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MMi Daily Iron Ore Index Report January 07 2019

Iron ore port stock ticked up today on the back of a more bullish trading atmosphere, backed by hopes that a US-China trade deal will soon be negotiated. According to SMM, blast furnace operating rates in January H1 2019 is expected to rise by 2% from that on December H2 2018, and during the same period, sinter operating rates in Tangshan are expected to increase to 75.7% from 69.4%. Seaborne iron ore trades and prices have been boosted today, given the seemingly improving macro-economic situation, with market participants believing that fundamentals remain strong.

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Source: Metals Market Index (MMi)

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