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05 Dec

Iron ore recovers, Vale expects tight supply

The seaborne iron ore market turned positive on Tuesday. Some restocking demand is expected to support buying. The Kallanish KORE 62% Fe index and the KORE 65% Fe index regained $0.26/t and $0.33/t respectively to $129.73/dry metric tonne cfr Qingdao and $141.79/dmt cfr. The KORE 58% Fe index, meanwhile, was $0.2/t higher at $118.47/dmt cfr.  On the Dalian Commodity Exchange (DCE), the most-traded May 2024 iron ore contract declined CNY 14/t ($1.96) to CNY 9…
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