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MMi Daily Iron Ore Index Report November 15 2019

SMM statistics showed that iron ore stocks across 35 Chinese ports declined 2.05 million mt from a week ago to 114.4 million mt as of November 15, and were also 16.86 million mt lower than a year ago. Arrivals decreased for two consecutive weeks, which slightly eased supply pressure. Daily average deliveries from the 35 ports rose 126,000 mt on a weekly basis and 237,000 mt on a yearly basis to 2.87 million mt this week. Some steel mills stockpiled after DCE iron ore prices rebounded in the second half of the week. However, environmental restrictions are likely to prevent deliveries from ports from increasing this week. Hebei province’s Handan and Henan province issued heavy pollution alerts ahead of last weekend.

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Source: Metals Market Index (MMi)

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