Market Verdict on Iron Ore：
· Neutral to bearish.
Macro
· China Monetary Department official Sun Guofei said monetary supply was sufficient in the following months. There should be small chances to experience liquidity risk in the market.
· U.K. Central Committee(MPC) Sanders indicated U.K. central bank potential to increase interest rate in next year. Previously Sanders voted for the early termination of the 895 billion Treasury Bond purchase.
Iron Ore Key Indicators:
· Platts62 $137.85, +6.35, MTD $139.53.
· August 30- September 5th: major 7 iron ore ports in Australia and brazil total inventory 12.62 million tonnes up 133,000 tonnes w-o-w.
· Indian Miner NMDC will decrease lump and its concentrates price by 1000 Rupee/tonne($13.6).
· Lybia President hope Bao Chico Resources Liberia Limited to approve an iron ore project. Lybia iron ore reserve was 4- 6.5 billion tonnes(Fe30-67%). The trade was done between a subsidiary of Hongkong Bao Chico limited and Baowu subidary.
SGX Iron Ore 62% Futures& Options Open Interest (Sep 7th)
· Futures 72,477,600 tonnes(Increase 535,000 tonnes)
· Options 78,011,500 tonnes(Increase 4,548,100 tonnes)
Steel Key Indicators
· 91 China blast furnace average rebar cost 4698 yuan/tonne, down 227 yuan/tonne, 4.6%. Steel margin 408 yuan/tonne, up 111 yuan/tonne.
· Ganggu Construction Steel Inventory: production 5.13 million tonnes, down 1,700 tonnes w-o-w. Mills inventory 4.33 million tonnes, down 224,300 tonnes w-o-w. Circulation inventory 9.96 million tonnes, up 73,800 tonnes w-o-w.
Coal Indicators
· After monitoring that Shanxi Yulin Coal Trading Center released false information on coal price, the National Development and Reform Commission and Shaanxi Provincial Development and Reform Commission immediately instructed investigation team on coal price rise and interviewed the responsible personals of Yulin coal trading center Co., Ltd.
