MMi Daily Iron Ore Index Report June 13 2019
News of tanker explosions in the Middle East had commodities markets soaring world-wide, and the Chinese DCE Iron ore market was no exception. Traders were confident of increasing freight premiums and that market uncertain will be adding a premium to current iron ore prices. Mills balked at the current high prices and were unwilling to look to the port market, preferring to continue to destock from their own inventories. Supply remains very tight and there seems to be no respite in the near future.
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