Iron ore swaps dropped on Tuesday after spot prices hit two-week lows with demand from top buyer China losing steam after weeks of restocking.

China’s insatiable appetite for timber is driving an illegal trade in Asian and African forests that is fuelling conflict, an environmental group said on Thursday.

Singapore raised its full-year growth forecast for this year on Thursday to between 3.5 and 4 per cent as third-quarter gross domestic product exceeded prior estimates, helped by further signs of a recovery in manufacturing and continued strength in services.