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MMi Daily Iron Ore Index Report June 05 2019

Market activity slowly picked up today, though transactions remained low given the upcoming Chinese Dragon Boat Festival holiday. Mills are still looking to buy this week, but as profit margins continue to shrink, they are only looking to buy to cover current demand. One mill in East China states that as iron ore prices rose, they chose to maintain normal inventory levels at their plants. Another mill in Central China believes that although some of their steel products hover at the edge of profit and loss, they still have no plan to cut production or conduct maintenance.

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Source: Metals Market Index (MMi)

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