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Futures Highest Since September


SGX Iron Ore futures extended Friday's gains in Sunday trading briefly dealing above the $120/tonne handle printing the highest level since mid-September before paring gains amid thin liquidity.

  • The November contract finished dealing at $119.00/tonne after touching a high of $120.20/tonne. SGX Futures rose ~6% last week, the first daily gain in 7 weeks.
  • China's fresh moves to bolster growth continue to linger, adding a layer of support in the metals space. The Chinese government's mid-year budget adjustment helped boost sentiment in the domestic economy last week.

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