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Futures Highest Since April On Chinese Credit Data

IRON ORE

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.

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