IRON ORE DERIVATIVES WRAP: Lower tender offer pushes OTC prices down

May 14, 2012 | 11:45 AM |

Forward curve (from three brokers): May $136/137.50 June $130/131 Q3 2012 $128.50/130 Q4 2012 $126.50/128 Q1 2013 $124.25/126.25 2013 $121/122 2014 $113.25/114 Swaps Iron ore swaps volumes remained at high levels on Monday May 14 after physical iron ore tenders were concluded at lower levels for a second consecutive workday. The Singapore Exchange (SGX), the contract’s most popular clearing venue, cleared 721,000 tonnes of swaps....

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