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China iron ore, stainless steel futures rise on trade deal optimism
12th of September ,2019

Chinese iron ore futures climbed more than 2% on Thursday, despite little trading in the physical market ahead of the country's National Day celebrations, as hints of progress in the U.S.-China trade deal negotiations lifted investor sentiment.


The most-traded iron ore contract on the Dalian Commodity Exchange, for January 2020 expiry, rose as much as 2.7% to 640.50 yuan ($89.83) a tonne.


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U.S. President Donald Trump said on Wednesday a deal to end a nearly 15-month trade war with China could happen sooner than people think and that the Chinese were making big agricultural purchases from the United States, including of beef and pork.


The Chinese ferrous complex was mostly higher after Trump's remarks, with stainless steel also rebounding after a lacklustre market debut on Wednesday.


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