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MMi Daily Iron Ore Index Report June 14 2019

As of June 14, iron ore stocks across 35 Chinese ports shrank 2.89 million mt from a week ago and 34.83 million mt from a year ago, and stood at 112.44 million mt, SMM statistics showed. This marked 10 consecutive weeks of decline. Low arrivals significantly reduced stocks across major ports. Daily average deliveries from the 35 ports fell 23,000 mt from a week ago, but grew 250,600 mt from a year ago, and stood at 2.69 million mt last week. Major ports in the east and north saw lower deliveries as higher prices of iron ore kept steel mills cautious about purchasing. Arrivals across major ports in the north are expected to inch up this week, and this will ease tight supplies.

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Source: Metals Market Index (MMi)

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