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Iron Ore Price Volatility Now At 2008 Low
Singapore iron ore futures closed the week near six-month highs, supported by signs of revived Chinese demand driving peak-season restocking, alongside other factors such as steel mills curbing supply and expectations for a 25-bps interest rate cut in the U.S. next week. Earlier in the week, UBS analyst Catherine Gordon told clients, "I would flag that the team has seen strong demand for the UBS Gold Miners Basket UBXXGOLD amid the frenzy. Iron Ore remains the least discussed with investors on the sidelines." Has the iron ore market been long lost and forgotten by Wall Street desks, with prices stuck around ... (full story)