OREANDA-NEWS. February 04, 2016. SGX iron ore derivative volumes totaled a record 132.3 mil mt in January, while open interest averaged 182 mil mt during the month. Our suite of ferrous products provides market participants with a wide range of trading strategies and risk management solutions.

62% Fe spot iron ore averaged \\$41.17 per tonne in January, up 4.0% from December (and down 38.7% y/y). After a weak start to the year, lower iron ore shipments, a temporary port closure in Brazil and restocking by Chinese mills provided price support through the end of January.

Weak manufacturing activity in China continued to weigh on demand sentiment in recent weeks. Looking forward, ‘tackling industry overcapacity’ is expected to be an area of focus this year, with the State Council recently stating that policy and financial support will be provided to resolve overcapacity issues. Our recent industry survey suggested this is likely to be a gradual multi-year process.

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