China's iron ore futures rise.


China's iron ore futures rose on Tuesday after Vale SA, the world's largest iron ore miner, lowered its production outlook for the steelmaking raw material. The most-traded iron ore contract on the Dalian Commodity Exchange, expiring next month, closed up 1.7 percent at 651.50 yuan ($92.56) a tonne. It rose as much as 2.2 percent during the session. On the Singapore Exchange, the front-month January contract erased early gains and was down 0.4 percent. Vale said on Monday it would slash output from its Brucutu mine in Brazil...

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