FIS Daily Ferrous Report

Iron ore followed on from yesterday’s bullish moves by giving it another kick on higher today, the Asian afternoon DCE session opening limit up of 760.5 and remaining there for the duration. Swaps pumped as a result, Jul trading 98.70 up to 102.90 with Q3 breaking the 100 mark again, trading 100.50. spreads widened as a result, notably in the backend where Q4/cal20 trading 8.75 and bid on. Nearer dated contracts saw Jul/Aug trad up to 2.40 and Jul/Sep trading 4.50.