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MMi Daily Iron Ore Index Report June 03 2019

The Iron ore DCE Futures market continue to move lower, helping push the physical port stock market prices down by 5- 10yuan/mt. Most buyers and sellers chose to stand on the side-lines today with few concluded transactions. The Tangshan government published its implementation plan for June on controlling air pollution though it is expected to be weaker by comparison with the plan in May. Therefore iron ore demand in June is still expected to have some room to grow, which could provide some support to iron ore port stock prices this month. Given that steel prices are on the bearish side, iron ore prices are currently facing the same bearish pressure.

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Source: Metals Market Index (MMi)

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