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Market News Topics
August 30, 2023 21:44 GMT
Futures Highest Since Early July
IRON ORE
SGX Iron Ore futures printed their highest level since early July on Wednesday, briefly dealing above the $115/tonne handle before paring gains.
- The October contract closed at $114.50/tonne rising ~2% yesterday. We now sit ~15.5% above August lows.
- Sentiment in the space remains strong as there have been no production curbs implemented by the Chinese government and demand has been supported by sectors such as infrastructure, power machinery, autos and shipping, despite the worries around property. More here.
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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.
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