Daily Iron Ore Report. Although it was the first day of the two day Autumn festival in China and Physical Iron Ore was extremely quiet, this didnt stop stronger bids DoD being shown on GlobalOre after The Fed surprised pretty much everyone by voting to maintain its $85B montly bond buying program. As can be seen below, the markets loved it and this rubbed off on IOS as well. Swaps were 23 bucks up on the previous days close and 1092kt cleared in SGX as follows: Oct 129131, Nov 126.25128.5, Dec 127127.25 (oct/nov 2.53, nov/dec at 1.25), q4 at 128 and q1 126.25127.25 (q4/q1 at 1.50 and q1/q2 printed at 6.50). SHFE was closed today. Hong Kong stocks bounced higher after the U.S. Federal Reserve said it will maintain the current pace of monthly bond purchases. The Hang Seng Index rose 406 points, or 1.8%, to 23,525.40 markets across Asia followed suit. European stock markets posted solid gains at the open with Miners boosting the Footsie. In the US, S&P and the Dow soared to record highs after the announcement. Oil futures erased early gains and traded in slightly negative territory, with the downside reversal attributed to some Syriarelated speculation coming out of crude. #SSY
Posted on: Fri, 20 Sep 2013 14:08:48 +0000
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