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BUZZ-Australia's basic materials firms up as iron ore hits 3-week high

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) of Australian basic materials companies Bradken Ltd, BlueScope Steel Ltd and Independence Group Ltd up as much as 4.3 pct, 4 pct and 3.9 pct, respectively

** Large-cap basic materials companies also on an upward trend with Fortescue Metals Group Ltd, BHP Billiton Ltd and Rio Tinto Ltd (Xetra: 855018 - news) gaining as much as 3.8 pct, 2 pct and 1.8 pct respectively

** Iron ore futures rose to a three-week high on Tuesday on shrinking inventory at China's ports amid slow offers of fresh cargoes

** The most-traded iron ore contract for September delivery on the Dalian Commodity Exchange closed up 1.2 percent at 441.50 yuan a tonne, after hitting a session high of 445.50 yuan

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** Spot benchmark last stood at $62.10 a tonne on Tuesday, compared with $61.40 a tonne on Friday

** Bradken is the largest percentage gainer on the benchmark S&P/ASX 200 Index (Reuters Messaging: shashank.ks.thomsonreuters.com@reuters.net)