10 Mar 2016
Iron ore furtures are volatile in a 6.5% range - ANZ
Analysts at ANZ noted that the iron ore prices fell overnight.
Key Quotes:
"The benchmark iron ore price fell by
USD6/tonne to close at USD58/tonne. Volatility was again extreme in Chinese iron ore and rebar futures markets, making it hard to read exactly where the benchmark price should be trading.
Chinese rebar futures traded a 6.5% range for the day, with prices eventually recovering to close near the highs set earlier on Monday. Dalian iron futures also rallied hard late in the session, with the May 2016 contract closing at a contract high and seemingly running counter to the fall in the benchmark price."
Key Quotes:
"The benchmark iron ore price fell by
USD6/tonne to close at USD58/tonne. Volatility was again extreme in Chinese iron ore and rebar futures markets, making it hard to read exactly where the benchmark price should be trading.
Chinese rebar futures traded a 6.5% range for the day, with prices eventually recovering to close near the highs set earlier on Monday. Dalian iron futures also rallied hard late in the session, with the May 2016 contract closing at a contract high and seemingly running counter to the fall in the benchmark price."