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Futures Pressured On Tuesday

IRON ORE

SGX Iron Ore Futures were pressured on Tuesday falling to their lowest level since 12 July before losses were marginally pared into the close.

  • The value of new home sales fell 33.1% from a year earlier, the largest fall in 12 months, more here. The lack of a big bang stimulus from the Chinese Government to ensure the health of the property sector also continues to weigh.
  • Futures sit at $106.00/tonne, ~8% below highs seen in late July.
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