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Futures Tick Lower On Tuesday


SGX Iron Ore futures ticked lower on Tuesday, the first fall in 4 days.

  • The December contract finished dealing at $121.75/tonne, ~2% below Tuesday's session highs. We do remain well within recent handle and continue to consolidate above the $120/tonne handle.
  • Sentiment in the space soured a touch yesterday as the operating rate in Tangshan slid to a four month low. Participants are also keeping an eye on possible steel curb directives from Beijing as the year draws to an end.

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