Iron ore futures rose early then weakened today. The DCE most-traded I2701 contract closed at 669.5 yuan/mt, down 0.52% from the previous trading day, a much smaller decline than yesterday. Spot prices at Qingdao port rose by about 1-5 yuan/mt. Traders were firm on offers, while steel mills made more enquiries but concluded few deals. Spot trading volumes were low.
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