Australia Shares Set To Open Higher On Mining Gains; NZ Down

Australian shares are set to open higher on Friday, likely led by a rise in heavyweight iron ore mining stocks on surging prices of the commodity, although gains may be capped amid rising worries over surging COVID-19 cases and lockdowns.

Benchmark Dalian and Singapore iron ore futures jumped to contract highs on Thursday, driven by concerns about supply of the steelmaking raw material from Australia and optimism around demand as steel prices picked up in China.

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