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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 have fallen ~12% since printing their highest level since mid April last week, the price now sits comfortably below $100/tonne and the lowest since 5 May.
- The contract is on its longest losing streak for one month. Demand concerns from China have not abated, daily crude steel output at major Chinese steelmakers dipped 0.2% from early May levels and sit ~2.3% lower than May 2022. More here.
- Losses have been marginally pared in early dealing on Tuesday and we last sit at $96.25/tonne.
Fig 1: SGX Iron ore
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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