- SGX iron ore derivative volumes totaled 111.4 mil mt in August, while open interest averaged 176.9 mil mt during the month. Our suite of ferrous products provides market participants with a wide range of trading strategies and risk management solutions.
- 62% Fe spot iron ore averaged $60.43 per tonne in August, up 6.7% from July (and up 9.3% y/y). Spot prices remained within a narrow range during the month, supported by mill restocking and low finished steel inventory, though bearish expectations have been rising. Meanwhile, coking coal prices surged over 35% during the month on supply tightness.
- Chinese manufacturing data held up relatively steady in August. Stimulus expectations are gradually fading, and the growth/reform pendulum appears to be swinging back towards structural reforms.
FULL MONTHLY REPORT AVAILABLE HERE
