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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
Iron Ore futures rose ~5.5% yesterday, and are dealing above $100/tonne after weakening below the handle in last week's trade. Gains have been marginally trimmed this morning and we sit at $104.45/tonne.
- Chinese steel output rose in the first weeks of May, link here, and the country's largest cities reported more home buying last week.
- Inventories of Iron Ore in China fell 2.8% to 17.6mn tonnes as stockpiles at major Chinese mills slipped for an 11th straight week, link 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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