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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 registered their 7th consecutive daily gain on Thursday rising ~2.2%, the rally has extended in early dealing on Friday and we sit at $111.40/tonne.
- The contract is now ~22% above the low registered on 26 May, however we still remain a touch lower year to date.
- A cut in deposit rates from some of China's largest banks yesterdays aided the bid, as did the lingering impact of reported measures to support the property market.
- Steel stockpiles at Chinese Steel Mills are at their lowest since January, more here.
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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