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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.
IRON ORE
SGX Iron Ore futures sit at their lowest level since 14 June retreating from month to date highs as Tuesday's cut in China's 5-Year LPR by 10bps weighed on sentiment. Economists were split between a 10 and 15bp cut.
- Futures fell ~0.8% yesterday and are down a further 1.6% in thin trade on Wednesday last printing at $111.20/tonne.
- Despite yesterday's fall we remain ~21% above late May's low.
Fig 1: CSI300 Real Estate Index vs SGX Iron Ore Futures
Source: MNI/Bloomberg
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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