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Chinese iron ore futures rise for third day with steel

Posted on 25 November 2016

Iron ore futures in China rose for a third straight day, and at one point hit the highest level in almost three years, supported by firmer steel prices in the world’s top consumer. Both iron ore and steel came off the day’s peaks, but the recovery in futures from last week’s slide had lifted the price of spot iron ore by nearly 8 per cent in two days as physical buyers chased higher prices.
The most-traded January iron ore on the Dalian Commodity Exchange closed up 2.4 per cent at 622 yuan ($90) a tonne, after rising as much as 8.4 per cent to 658.50 yuan, its loftiest since February 2014………………………………….Full Article: Source


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