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Futures Print Highest Level Since Late April


SGX Iron Ore futures have risen ~9% month to date in June, printing their highest level since 21 April yesterday before marginally paring gains. The contract currently sits ~0.7% firmer in early dealing on Tuesday.

  • Chinese Regulators are considering measures to boost the property market including reducing down payments in some neighborhoods of major cities, lower agent commissions and further relaxing restrictions on residential purchases. Monday’s Purchasing Managers Index also showed new orders rising to their highest reading since April 2021. Link here.
  • Inventories have edged lower printing their 14th consecutive fall, link here.

Fig 1: SGX Iron Ore Futures

Source: MNI/Bloomberg

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