29
Oct
00:00
Oversupply of 58% Fe iron ore prompts new SGX contracts
A disconnect between prices of 62% Fe ore and 58% Fe ore has prompted the decision by the Singapore Exchange (SGX) to launch new 58% Fe derivatives contracts next year. This will be added to its 62% Fe futures, according to futures broker Freight Investor Services (FIS). The price divergence been caused by a significant increase in the supply of ores with less than 60% Fe, largely but not exclusively from Fortescue Metals Group (FMG), it adds.
FMG has reache…
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Anonymous
Very good overview of the weekly steel market.
Anonymous