Physical iron ore prices rose on Thursday January 3 following gains in the futures and swaps markets.China's ferrous futures rose on Wednesday night and stayed robust on Thursday. The benchmark steel and iron ore contracts ended the day 1.1-2% higher than the settlement levels a day earlier.Iron ore swaps on the Singapore Exchange strengthened as well, with the January 62% and 65% Fe contracts advancing above $72 and $87 per tonne cfr China respectively.
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