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Recent Ranges Persisting

IRON ORE

SGX Iron Ore Futures are marginally firmer today, however the $110-$120/tonne range which has been observed since early September is persisting.

  • November futures sit at $116.85/tonne, the contract found some technical support at the 20-Day EMA ($115.16/tonne).
  • New Home Price in 70 major Chinese cities fell 0.3% M/M in September, the further decline in Chinese property prices has not yet weighed on sentiment in the metals space today.

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