Iron ore’s most-traded May contract in Dalian Commodity Exchange hit high as it surged by RMB 52.5 d-o-d to close at RMB 971/t on speculative buying interest. Iron ore futures front-month Jan contract in Singapore Exchange closed high at $153.81/t. Meanwhile, HRC futures in Shanghai Exchange jumped by RMB 73/t after top steel producer Baoshan Iron & Steel raised prices for Jan-delivery. SHFE rebar futures grew by RMB 51/t to close at RMB 4,040/t, SteelMint assessed.
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