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Futures Print Fresh Cycle High


SGX Iron Ore futures printed a fresh cycle high on Thursday touching $126.10/tonne before marginally paring gains.

  • The December contract finished dealing at $125.30/tonne the highest close for the contract of 2023. We sit ~32% above the lows seen in August.
  • Optimism seen in the space after China's issue of 1tn Yuan of bonds to aid an economic recovery continues to linger and add support.
  • Australia Iron Ore exports from Port Hedland fell to 17mn tonnes in the week to 27 October, from 18.3mn tonnes the week prior.

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