September 11, 2023 21:45 GMT
Futures Highest Since April On Chinese Credit Data
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SGX Iron Ore futures rose to their highest level since early April as the October contract has its strongest day since 17 August.
- Front month future closed at $117.60/tonne rising ~3.8% in Monday's session.
- China's aggregate financing expanded more than expected in August boosting sentiment in the metals space. The expansion was a possible sign of stabilisation in household demand for mortgages after authorities took steps to boost the property market.