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Futures Highest Since Early July


SGX Iron Ore futures printed their highest level since early July on Wednesday, briefly dealing above the $115/tonne handle before paring gains.

  • The October contract closed at $114.50/tonne rising ~2% yesterday. We now sit ~15.5% above August lows.
  • Sentiment in the space remains strong as there have been no production curbs implemented by the Chinese government and demand has been supported by sectors such as infrastructure, power machinery, autos and shipping, despite the worries around property. More here.

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