Iron ore the standout in weak ferrous futures

摘要

General weakness in the ferrous space dragged down ferrous futures on various exchanges over the last month. The better performing segment was iron ore, where spot prices managed to stay almost unchanged from the previous month. However, the forward curve slipped steeper into backwardation as we are nearing 2020. On September 10, the IODEX was valued at $93.20/mt with the 5-month future contract at $82.56/mt, while on October 10 the IODEX was valued at $93.40/mt with the 5-month future contract at $80.82/mt.