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Tag Archives: Yandi iron ore

Growing Stockpiles of Iron Ore in Chinese Ports Affecting Iron Ore Futures

05 Tuesday Nov 2013

Posted by Angela Chao in Dry bulk shipping

≈ 1 Comment

Tags

Dalian Commodity Exchange, economic growth plan, International miners, Iron ore prices, steel mills, Yandi iron ore

Chinese iron ore futures continued their downward slide, as the month of October came to a close. 62% grade iron ore scheduled for May delivery, which is seeing the most activity on the Dalian Commodity Exchange, traded at $150 a ton, including VAT and China’s other import fees. Futures contracts began trading on the Dalian exchange in mid-October. Iron ore prices for immediate delivery fell more than a percentage point, to $131.80 a ton, reaching their low prices of early October. Industry analysts predict that prices could fall as low as $130 a ton in November, however early trading results hold a small glimmer of hope that perhaps Dalian iron ore futures have stabilized. For example, traders expect BHP’s Australian Yandi iron ore to sell at around $123 a ton. Futures analysts point to overabundance of supply as the reason for the low prices. Continue reading →

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About Me

Angela Chao
Chairman and C.E.O. of Foremost Group, a leading shipping and trading enterprise, Angela Chao is an active businesswoman who serves on several boards and loves to volunteer. Angela comes from a loving and supportive family of Chinese descent. The Chao family dedicate themselves to serving and contributing to society.

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