Daily iron ore price update (Chinese NY)

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The iron ore price complex is pricing in an ebullient start to the Chinese New Year:

ore1 ore2 ore3 ore4

Next week is a long holiday for Chinese New Year and it looks like restocking is at play once again but its all in futures trading, not spot prices. More from Reuters/AFR:

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Steel traders and buyers are expected to restock around mid-February when most in the market would be back at work, said CRU analyst Richard Lu.

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