Chinese iron ore futures picked up by RMB 29, propelled by restocking demand from steel mills. Most active May contract in Dalian Commodity Exchange reached $1,062.5/t in the afternoon’s trading. SGX’s front month iron ore futures contract for Feb rose by $3 to $168/t. SHFE rebar and HRC futures climbed by RMB 78 and RMB 139, respectively.
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