Dalian iron ore futures fell by RMB 7.5 d-o-d and closed at RMB 850/t amid rising port stocks in China, with vessel congestion easing and offloading speeding up after weeks of strict COVID-19 protocols and bad weather. Futures in Singapore Commodity Exchange dropped by $1.21 to $127.28/t. China rebar futures plummeted to RMB 3,754/t.
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