Chinese iron ore futures are climbing

It looks like the gyrations in the spot iron ore price will continue this evening.

The most actively traded September contract on the Dalian commodities exchange is currently up 3.13% to 445 yuan, indicating a likely gain in spot price overnight.

On Tuesday the price for 62% fines climbed 2.2%, or $1.34, to $61.34 a tonne according to pricing from Metal Bulletin’s iron ore index.

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