Iron ore derivatives remain volatile; met coal directionless

摘要

Singapore—Iron ore futures made large moves over the course of a volatile week, while coking coal derivatives were quieter and directionless. The first week of July began with large gains in iron ore futures, with the biggest one-day increase this year for 62 Fe fines on the Singapore Exchange (SGX). Both the July and June contracts rose more than $6.00/ mt Monday as physical tightness continued to drive the market. Spreads followed suit, with the Dalian Commodity Exchange's (DCE) Sep-19/Jan-20 spread peaking Tuesday at $16.91/mt. Wednesday seemed to be the turning point.