Iron Ore Swaps Drop 33 Percent

Bloomberg reported iron ore swaps traded 33 percent lower in October after reaching a record of 17.7 million metric tons  in September.

As quoted in the market news:

While still up 59 percent from the year-earlier period, the iron-ore swaps volume fell to 11.9 million tons from the previous month, an aggregate of daily trading volumes on SGX shows. Ore with 62 percent content delivered to the Chinese port of Tianjin gained14 percent last month after jumping 17 percent in September and dropping 24 percent in August.

Click here to read the full Bloomberg report.