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Futures Trim Recent Gains As Steel Stockpiles Rise

IRON ORE

SGX Iron Ore Futures have marginally trimmed recent gains falling for the first time in 6 sessions.

  • The September contract finished dealing down ~1% at $112.25/tonne, and sits ~13% above August lows.
  • Data from the China Iron and Steel Association showed rising inventory at major Chinese Steel Mills in mid August. Inventories are expanding despite the typically busy construction season over September and October approaching. More here.

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