Iron Ore Hits Over 2-Week High
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Iron ore futures rose above CNY 790 per ton, hitting a two-week high due to strong demand from steel mills and tightening supplies in China. Despite squeezed margins and softer steel prices, steel producers increased purchases. China's non-property sectors now account for over 72% of steel demand. Analysts warn of potential price headwinds due to expected higher global shipments, with China's iron ore imports set to reach a record this year.
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