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SWAPS REPORT: OTC iron ore volumes push higher, prices steady

January 27, 2012 - 17:04 GMT Location: London

KEYWORDS: iron ore , OTC , volumes , prices , swaps

The iron ore swaps market saw volumes increase after New Year holidays in China damped activity in the earlier part of the week, brokers told Metal Bulletin on Friday January 27.

Forward curve (from two brokers): Jan $145/146 Feb $144.5/146.5 Mar $144/146 Q1 2012 $144/147 Q2 2012 $142.5/144.5 Q3 2012 $137.5/140.5 Q4 2012 $134/139 2012 $139.5/140.5 2013 $128.5/130.5 2014 $118.5/126.5 The iron ore swaps market saw volumes increase after New Year holidays in China damped activity in the earlier part of the week, brokers told Metal Bulletin on Friday January 27....

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Iron Ore & Coking Coal

May 22, 2012 14:11 Labrador Iron Mines sells 170,000 tonnes to China at $126/t
May 22, 2012 08:47 Spot 63.5% Fe iron ore prices rest at $138-139 cfr
May 22, 2012 08:23 Attila looks for coking coal in USA
May 22, 2012 06:26 Vale plans second Asian iron ore transfer station
May 22, 2012 04:58 FACTS: China’s steel raw material imports mixed in April

Comment & analysis

COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.
COMMENT: Keep calm and carry on?

The decision of the Indonesian government last week to uphold the ore export ban and taxes from May 6 has failed to calm the nervous market. So far, both producers and buyers have displayed an impressive tolerance level to the export uncertainty. But how long will their patience last?