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MMi Daily Iron Ore Index Report January 16 2019

Seventy-three vessels carrying 10.67 million mt of iron ore are expected to arrive at major Chinese ports in the week ending Thursday January 17, up 1.14 million mt from the previous week, SMM data showed. For the same week, iron ore shipments departing Australian ports are expected to rise by 560,000 mt from the prior week to 14.91 million mt as port maintenance ended. Low-grade iron ore maintains its recent strong showing, SSF traded at 400yuan/mt in Tangshan today, with the price spread between Carajas Fines and SSF close to its record low of 281yuan/mt (MMi started tracking low-grad brands in June 2018). This compares to a spread of 466yuan/mt back in early August 2018.

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Source: Metals Market Index (MMi)

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