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Benchmark Dalian and Singapore iron ore futures fell on Wednesday as concerns over COVID-19 curbs in China and the approaching off-season for construction activity in the world’s biggest steel producer soured sentiment.
China is maintaining a zero-tolerance policy towards local COVID-19 cases, moving quickly to quell any local outbreaks by imposing mobility restrictions.
One local COVID-19 case has prompted Dongxing, a Chinese border city next to Vietnam, to order its residents to stay at home from Wednesday and halt public transport, state broadcaster CCTV reported. – Reuters
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