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Trims Weekly Gains On Friday

IRON ORE

SGX Iron Ore futures fell ~2.5% in Friday's T+1 session, trimming weekly gains; there was no specific headline driver for the move as perhaps technical flows weighed.

  • The September contract finished dealing at $104.20/tonne, the pair was ~4% firmer last week.
  • Early in Friday's session recent gains were extended as demand optimism rose in the metals space in the absence of firm directives re output cuts from China. More here.

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