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Reuters reported steel prices jumped as lowered iron ore prices supported the metal.
Reuters reported steel prices jumped as lowered iron ore prices supported the metal.
As quoted in the market news:
…falling domestic iron ore inventory supported prices of the steelmaking raw material.
The most-traded October rebar contract on the Shanghai Futures Exchange hit a high of 4,371 yuan a tonne ($693), its strongest since mid-January, before ending at 4,367 yuan, up 13 yuan from Monday’s close.
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