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Consolidating Gains

IRON ORE

SGX Iron Ore Futures are consolidating June's gains holding above $110/tonne with relatively narrow ranges persisting yesterday.

  • The contract rose ~0.7% yesterday and last prints at $112.00/tonne a touch pressured in thin trade this morning.
  • China's latest industrial profits data showed that the Chinese Steel Industry is struggling as ferrous metal smelters were loss-making for the first five months of the year. More here.

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