According to sources, iron ore prices were mostly stable on Tuesday, October 5, and there was low liquidity in the physical and futures markets during the Chinese holiday. Estimates show that closing markets is the most important factor in lowering prices and reducing the likelihood of buying. In the following, we will observe the iron ore market. Please be with Artan Press.
*** Evaluate the fast market index of the Asian iron ore market
The Iron Ore Index quoted 62 percent of Jigdao Port traded at $ 116.58 per tonne, down $ 0.54 per tonne. 62% low alumina fine iron from the same port and with the same trading format was priced at $ 119 per ton. This product recorded a drop in price of $ 0.41 per ton. 58% iron ore from Qingdao port was priced at $ 90 per ton. This product was also accompanied by a drop in price.
*** Important market factors in the past day
The Dalian Commodity Exchange (DCE) closed due to China’s public holiday from October 1 to 7 on National Day. Most November Trading The November trading session on the Singapore Stock Exchange (SGX) fell slightly. As of 5:46 pm Singapore time, this product has dropped to $ 0.57 per ton. Last Monday, the settlement price was $ 117.07 per ton. A Singapore dealer told Fast Market that the physical market for iron ore was calm during the Chinese holiday. Compared to Monday and Friday, October 1, the trading liquidity of iron ore in SGX weakened. As a result, the exchange rate fluctuated in a smaller range during the day.
*** Dull days of iron ore trading
Observations of the iron ore market show that there is no visible activity in this area. The fast market index of the iron ore market observation shows that for 62% iron ore, fine Pilbrera was priced at $ 114 to $ 118 per ton CFR. The Brazilian mixed fine was priced at $ 115,50-12,225 per ton cfr China, the fine newman was priced at $ 115.60 per ton cfr China. The Dalian Commodity Exchange is currently closed. Port activity is currently at the lowest possible level.
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