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Futures Highest Since Mid-April Before Paring Gains

IRON ORE

SGX Iron Ore futures advanced to its highest level since 18 April at $115.00/tonne on Monday before paring gains. The contract printed finished dealing up ~0.3% its fifth consecutive day of gains.

  • The lack of fresh stimulus detail from China weighed on sentiment and futures ticked away from session highs. The contract is pressured in thin trade on Tuesday last printing at $113.00/tonne.
  • Blast furnace utilization was flat in the week to June 16, after sliding earlier in the month. More here.

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