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MMi Daily Iron Ore Index Report June 18 2019

Ninety vessels carrying 12.44 million mt of seaborne iron ore arrived at major Chinese ports in the week ended June 15, up 1.17 million mt from the previous week, SMM estimates. Greater arrivals at ports in east China accounted for the rebound, after a fall of 2.98 million mt in the week ended June 8. Last week, iron ore deliveries departing Australian ports rose 600,000 mt week on week to 15.14 million mt, while those leaving Brazilian ports decreased by 1.41 million mt to 4.82 million mt, according to SMM data. Some trades concluded this morning at lower levels when compared to yesterday, though after the DCE closed, quotes rose by a minimum 10 RMB/wtf. Traders remain active though mills were cautious due to their declining profit margins.

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Source: Metals Market Index (MMi)

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