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06 Jun

Iron ore rebounds on production cut rumours

Seaborne iron ore prices rebounded on Thursday as rumours of production cuts in China boosted confidence. The Kallanish KORE 62% Fe index and KORE 65% Fe index each increased by $0.96/t and $0.59/t to $108.92/dry metric tonne cfr Qingdao and $124.36/dmt cfr, respectively. The KORE 58% Fe index was $0.94/t higher at $95.97/dmt cfr. Two deals of 90,000 tonnes of Mac Fines each were sold at $104.55/t and $104.75/t with laycans of 1-10 July, and 3-12 July. Meanwhile,…
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