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MMi Daily Iron Ore Index Report January 07 2021

DCE iron ore futures rose higher and quotes in the physical port stock market increased by 5-15yuan/mt. PBF closed at 1120-1135yuan/mt in
Shandong
and Tangshan markets. Mills demand for low grade products increased as according to SMM and therefore the price spread between mainstream medium and low grade products has risen once again. Total transactions continued improving this week, and according to SMM, more and more mills started their restocking before the Lunar New Year holiday with some mills are still waiting to find their moment to dip into the market. The latest operating rates for blast furnaces still remain at the high levels of 88%, which means that prices may remain elevated in the short-term.

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Source: Metals Market Index (MMi)

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