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Sixth Daily Gain For Futures


SGX Iron Ore futures finished ~1.4% higher on Wednesday printing their 6th straight daily gain and have extended gains in early dealing on Thursday.

  • The contract has now risen ~20% from lows seen on 26 May, and sits above the $109 handle last printing at $109.40/tonne.
  • Speculation of Chinese economic stimulus continues to linger buoying Iron Ore and other base metals, with sentiment given a further boost from news that US Sec of State Blinken is planning to visit China in the coming weeks.

Fig 1: SGX Iron Ore

Source: MNI/Bloomberg

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