Free Trial

Futures Print Highest Level Since Late April

IRON ORE

SGX Iron Ore futures have risen ~9% month to date in June, printing their highest level since 21 April yesterday before marginally paring gains. The contract currently sits ~0.7% firmer in early dealing on Tuesday.

  • Chinese Regulators are considering measures to boost the property market including reducing down payments in some neighborhoods of major cities, lower agent commissions and further relaxing restrictions on residential purchases. Monday’s Purchasing Managers Index also showed new orders rising to their highest reading since April 2021. Link here.
  • Inventories have edged lower printing their 14th consecutive fall, link here.

Fig 1: SGX Iron Ore Futures

Source: MNI/Bloomberg

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.