Free Trial

Futures Consolidate Recovery

IRON ORE

SGX Iron Ore futures have consolidated their recovery of last weeks lows, ranges were narrow for the most part yesterday.

  • The November contract finished dealing at $118.35/tonne, rising ~1% yesterday. We now sit ~8.5% above the low from Oct 10, however the metal is well within the $110-120/tonne range which continues to persist.
  • Vale, the second largest Iron Ore producer, reported a thirds quarter decline in output of the metal as demand concerns from it's top buyer China weigh. More here.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.