Iron Ore Curve Flattening

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.