05.04.2016, 03:05
SGX Presents Iron Ore Monthly Report for March
OREANDA-NEWS. April 05, 2016.
SGX iron ore derivative volumes totaled a record 231.6 mil mt in March, while open interest averaged 211.9 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 \\$55.52 per tonne in March, up 19.8% from February (and down 2.5% y/y). A combination of stronger demand sentiment and restocking on average drove prices higher, while volatility spiked to record levels. Uncertainty looks set to linger in the near-term as the market seeks direction.
China’s manufacturing PMI saw a stronger than expected improvement in March. Recent policy measures and officials’ comments during recent NPC meetings indicate policymaker focus has switched more heavily towards supporting near-term growth. This may in turn support a gradual stabilisation over the coming months.
SGX iron ore derivative volumes totaled a record 231.6 mil mt in March, while open interest averaged 211.9 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 \\$55.52 per tonne in March, up 19.8% from February (and down 2.5% y/y). A combination of stronger demand sentiment and restocking on average drove prices higher, while volatility spiked to record levels. Uncertainty looks set to linger in the near-term as the market seeks direction.
China’s manufacturing PMI saw a stronger than expected improvement in March. Recent policy measures and officials’ comments during recent NPC meetings indicate policymaker focus has switched more heavily towards supporting near-term growth. This may in turn support a gradual stabilisation over the coming months.
FULL MONTHLY REPORT AVAILABLE HERE
IRON ORE CHARTBOOK AVAILABLE HERE
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