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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 unwound pressure seen in yesterday's Asian session after a softer than forecast Caixin Services PMI underlined weakness in the Chinese economy which weighed on the metals space.
- Despite the absence of a headline driver, losses were pared and the contract finished dealing up ~0.7% to sit at $109.60/tonne.
- Narrow ranges continue to persist, with moves having little follow through in recent sessions. Rallies have been capped above $110/tonne, with support seen below $108/tonne.
Fig1: 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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