SGX Iron Ore futures ticked higher on Wednesday as the lingering impact of China's budget adjustment provided support.

  • The November contract rose ~0.8% finishing dealing at $117.00/tonne, we now sit ~6.5% above the lows seen on Monday.
  • We do remain in the $110-$120 range which has persisted since September. Technically the contract has held above its 20-Day EMA ($115.25/tonne), the 200-Day EMA comes in at $108.15/tonne.

IRON ORE: Futures Tick Higher On Wednesday

Last updated at:Oct-25 21:48By: Brendan McKeating

SGX Iron Ore futures ticked higher on Wednesday as the lingering impact of China's budget adjustment provided support.

  • The November contract rose ~0.8% finishing dealing at $117.00/tonne, we now sit ~6.5% above the lows seen on Monday.
  • We do remain in the $110-$120 range which has persisted since September. Technically the contract has held above its 20-Day EMA ($115.25/tonne), the 200-Day EMA comes in at $108.15/tonne.

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