The Steel Index Shows Iron Ore Trading Tripled in January

Bloomberg reported that iron ore trading tripled in January compared to the previous year on speculation that the demand will increase after the Chinese New Year this month.

As quoted in the market news:

Swaps and options trading in iron ore across all exchanges and clearinghouses was 19.63 million tons, near the record of 20.3 million tons in September 2012 and up 215 percent from 6.24 million tons a year earlier, The Steel Index, which publishes iron ore prices, said in an e-mailed report today. Prices of ore with 62 percent iron ore content delivered to the Chinese port of Tianjin climbed 5.3 percent in January.

Click here to read the full Bloomberg report.