Iron ore futures in China recovered in line with the falling US dollar and increasing demand. Current prices were reported to have recovered the losses of the previous month.
The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) rose 1.8% to settle at USD 118.89 per metric tonne. Coking coal and coke rose 0.2% and 0.4%, respectively.
On the Singapore Exchange, August iron ore rose 0.3% to settle at USD 113.75 per metric tonne, the highest level since June 3.
Steel indices also rose on the Shanghai Futures Exchange. Rebar SRBcv1 rose 0.9%, hot rolled coil 0.6%, wire rod SWRcv1 0.1% and stainless steel SHSScv1 0.3%.
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