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The September DCE iron ore contract has......>

METALS
METALS: The September DCE iron ore contract has broken to the upside, with the
move above CNY469.00 marking the end of a three month contracting range and
suggesting that there is further upside potential. 
- The contract trades at CNY472.50, just shy of its 100DMA. Beyond this, the
200DMA at CNY488.50 and the May peak of CNY494.00 are the next notable
resistance levels. 
- The breakout in the metal comes amid general weakness in industrial metals and
Chinese stocks, which are typically headwinds for iron ore. However, weakness in
the CNY is providing support to local-currency based prices. 

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