FIS Daily Iron Ore Update

A 5.5 rmb range on the DCE this morning, slipping to an early low of 466 before reaching the high of 471.5 and closed for lunch at 470.

Swaps activity was very light with the DCE still not inspiring fresh interests to come to the table by refusing to break out of this range, though Jun traded early on at 65.50 whilst Aug was offered and paid at 65.40 and 65.30 with the DCE around the lows.

The afternoon session proved to be a very rangebound one, the DCE closing just 1 rmb higher than the lunch time close, at 471.

June traded 65.70 and Q4 traded 65.60 in smalls whilst the Jun/Aug traded -0.10. the backend spreads showed signs of going slightly better bid but liquidity still proving very thin.