Iron ore spot prices witnessed a divergence as Singapore-traded contracts recorded gains, reaching an 18-month high, while China's domestic futures posted a decline. The front-month Singapore contract closed at $132.60 per metric ton, up 1% for the week, signaling potential challenges for Beijing to control international prices. China's measures to curb the iron ore rally, including strengthened supervision and efforts to prevent hoarding, have impacted domestic traders, as reflected in the first weekly loss for the Dalian futures after seven consecutive gains. Despite concerns in China's property sector, robust iron ore imports and reduced inventories suggest ongoing support for iron ore prices, subject to Beijing's interventions.

SOURCE:GOOGLE