Traded volumes for the Singapore Exchange’s 65% Fe futures contract, which is settled against Fastmarkets’ daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao
, amounted to 1.994 million tonnes in December. For the whole of 2019, traded volumes for the 65% Fe derivatives totaled close to 20 million tonnes.
“It is the festive season and many participants typically aim to withdraw their capital at the year-end. That is the major factor that dampens the trading of derivatives,” a broker based in Shanghai noted.
Fastmarkets' daily price assessment for steel reinforcing bar (rebar), domestic, ex-whs eastern China
averaged 3,829-3,861 yuan ($550-554) per tonne. Range’s midpoint is down 1.3% month on month.
But despite Chinese mills narrower margins in December, a lower supply of Brazilian fines...