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Prices of iron ore futures rebounded on Monday, as a revival of hopes for monetary easing in top consumer China outweighed faltering near-term demand and bleak property data that had sent prices to the lowest levels in one week earlier.
A raft of industrial data that remained relatively weak kept alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more US trade tariffs under a second Trump administration. Property investment in China fell 10.4% in the first 11 months of 2024 from a year earlier, after dropping 10.3% in January-October, National Bureau of Statistics data showed on Monday.
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