Iron ore futures in Dalian Commodity Exchange (DCE) continued falling with Jan’21 contract closing at RMB 841.5/t, down RMB 6.5 d-o-d. Futures in Singapore Commodity Exchange (SGX) fell marginally to $122.04/t. Chinese steel mills seem to have adopted ‘wait & watch’ approach for iron ore purchases unwilling to lower steel margins. Rebar futures gained RMB 18 and closed at RMB 3,783/t.
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