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Trims Weekly Losses

IRON ORE

SGX Iron Ore Futures trimmed some of this week's losses after printing a two week low on Tuesday.

  • The October contract closed at $116.00/tonne rising ~1% on Wednesday.
  • A rise in Chinese industrial profits suggested that the economy was stabilizing, buoying the outlook for the metals space. August Industrial Profits rose 17.2% Y/Y, the biggest increase in more than a year.

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