Iron ore futures in DCE and SGX jumped to a contract high, driven by supply concerns from Australia and demand optimism as steel prices picked up in China. DCE’s Jan’21 contract closed at RMB 876.5/t and SGX Dec’20 futures closed at $124.29/t. SHFE rebar and HRC futures surged to RMB 3,940/t and RMB 4,078/t, respectively.
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