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Continues To Pare September Gains

IRON ORE
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SGX Iron Ore continued to trim its gains seen this month as recent pressure extended on Monday.

  • The October contract finished dealing at $114.00/tonne, falling ~1.8% yesterday. A monthly gain of as much as 9% has been pared and the contract sits ~1% above September's opening levels.
  • Measures to boost China's property sector have yet to provide the expected boost to the metals space. China’s property market could take as long as a year to recover, according to a former central bank adviser, who’s urging Beijing to do more to encourage lending to developers to halt the spread of defaults. More here.
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SGX Iron Ore continued to trim its gains seen this month as recent pressure extended on Monday.

  • The October contract finished dealing at $114.00/tonne, falling ~1.8% yesterday. A monthly gain of as much as 9% has been pared and the contract sits ~1% above September's opening levels.
  • Measures to boost China's property sector have yet to provide the expected boost to the metals space. China’s property market could take as long as a year to recover, according to a former central bank adviser, who’s urging Beijing to do more to encourage lending to developers to halt the spread of defaults. More here.