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Space Pressured On Thursday

IRON ORE

SGX Iron Ore futures are down ~2.5% on Thursday, the NDRC in China have noted today that they would increase supervision, crack down on illegal activities, and maintain the normal order of the market (BBG).

  • The December last prints at $131.60/tonne, a low of $130.15/tonne was printed before losses were pared.
  • Technically support comes in at $130/tonne, then the 20-Day EMA ($126.55).

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