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Recovers Above $130/tonne Handle


SGX Iron Ore futures erased losses of as much as 2.6% to finish the day marginally firmer, having recovered above the $130/tonne handle.

  • The December contract finished dealing at $131.05/tonne ~8% above November's opening levels and an impressive ~40% above the August lows.
  • Pressure was seen in early trade as China's NDRC said late Wednesday that its personnel visited the Dalian Commodity Exchange to explore stronger market supervision measures. Losses marginally extended after Chinese Home Prices fell the most in 8 years.
  • Losses were erased through the session as perhaps the impact of the Beijing government's 1Tn Yuan stimulus plan continues to add support.

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