FIS Singapore Iron Ore Derivatives Report 28/05/21

Market Commentary Iron ore futures were largely unchanged at just under $185 on Friday. The steelmaking ingredient has had a rollercoaster ride this month, with prices surging above $230 at the start of the month amid a global steel boom, exacerbated by China’s commitment to rein in last year’s record 1 billion tonnes of output. …

Ferrous trade weekly review 28/5/21

A total of 0.6 million mt of iron ores was traded for the week ended May 28, as the market toned down after Chinese authority’s pledge of commodity price control into their latest five-year plan. Therefore, the steel prices soon traversed downward, which affected steel margins as trade participants became more cautious in trading. During …