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Reuters reported iron ore spot prices are likely to fall further in the short term, but are getting closer to a turning point if previous trends in the swaps curve are repeated.
Reuters reported iron ore spot prices are likely to fall further in the short term, but are getting closer to a turning point if previous trends in the swaps curve are repeated.
As quoted in the market news:
The Singapore-traded iron ore swaps curve has been flattening recently, with the six-month contract currently 3.17 percent below the front-month’s $114 a tonne.
This is down from a discount of 4.9 percent that prevailed on April 13, when spot iron ore was at $149.40 a tonne, its peak for this year.