Q3 2012 $137/138.50
Q4 2012 $134/135.50
Q1 2013 $130/132
OTC iron ore volumes fell back on Friday May 4, with just a
handful of trades reported to Metal Bulletin by brokers.
The Singapore Exchange (SGX), the OTC iron ore contracts
most popular clearing venue, cleared 168,000 tonnes of swaps on
May 3, up from 155,000 tonnes cleared on May 2.
June traded outright at $138.50 and $139.25 per tonne, level
with trades concluded the previous day.
The third quarter traded outright at $137.50 per tonne and as
part of a carry trade with the fourth quarter in a
backwardation of $3.25 per tonne.
A backwardation occurs when a forward contract is sold at a
lower price than the spot, or prompt, price.
The Metal Bulletin Iron Ore Index (MBIOI) was calculated at
$145.37 per tonne on May 4, down by 68 cents from the previous
No options were reported traded on Friday.
Metal Bulletin iron ore futures volumes traded on the Singapore
Mercantile Exchange (SMX) fell to 30,000 tonnes traded for May
settlement on May 4, down from 37,000 tonnes traded on May 3.