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Firmer On Wednesday

IRON ORE

SGX Iron Ore futures firmed on Wednesday rising ~1.3% through the session.

  • The November contract closed at $112.25/tonne, as the contract trimmed recent losses. We now sit ~5% below early October highs.
  • A lingering impact of reported Chinese stimulus measures to ease its economic slowdown boosted the space on Wednesday. On Tuesday Bloomberg reported Beijing is considering issuing at least 1 trillion yuan of bonds to back spending on infrastructure projects.

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