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Trims July Gain On Friday

IRON ORE

SGX Iron Ore pared its weekly gains on Friday as robust supply from leading miners in Australia and Brazil weighed. The contract finished last week ~0.5% lower, trimming some of Julys early gains, and now sits up ~3% month to date.

  • There was light pressure in early trade dealing on Monday amid thin volumes, August contract now sits at $113.05/tonne.
  • On the demand side participants will be on lookout for any further details of support for the Chinese property sector this week.

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