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Iron-Ore Swaps Fall as China’s Call for Property Curbs Cuts Demand
Feb. 21, 2013 06:50PM PST
Base Metals Investing Bloomberg reported that iron-ore swaps fell the most in 6 weeks at 2.6% on speculation China’s call for property curbs would cut demand for commodities used in construction.
Bloomberg reported that iron-ore swaps fell the most in 6 weeks at 2.6% on speculation China’s call for property curbs would cut demand for commodities used in construction.
As quoted in the market news:
The March contract tumbled 2.6 percent to $148.50 a dry metric ton as of 8:26 a.m. in London, according to GFI Group Inc. It headed for the biggest decline since Jan. 11, based on data from SGX AsiaClear, the largest clearer of the derivatives used to hedge prices and bet on Chinese growth.
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