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Futures Have Strongest Week Since June


SGX Iron Ore futures capped their strongest week since early June rising ~1.7% on Friday to finish the week up ~6.7%.

  • The October contract finished dealing at $111.30/tonne, sitting ~13% above month to date lows. Iron Ore remains little changed from 2023's opening levels.
  • Support has been observed in the metal space as there has been no confirmation so far of any steel output curbs, which have been the subject of speculation over recent weeks. The looming 2-month building season in China is also adding support to the space.

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