Iron ore futures in Dalian Commodity Exchange fell further by another RMB 11 as China’s rising port inventories and softening physical demand for steel products weighed on sentiment. Most traded iron ore Jan’21 contract closed at RMB 787.5/t. Singapore futures fell by $1.4 to $118.9/t. SHFE rebar futures slipped to RMB 3,612/t against yesterday while HRC futures declined by RMB 32 and closed at RMB 3,725/t.
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