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Singapore SGX Feb iron ore lump contract traded volume rises four times on year

Singapore (Platts)--2 Mar 2018 523 am EST/1023 GMT


The Singapore Exchange's iron ore lump premium contracts posted a trade volume of 400,000 mt in February, up four times from 100,000 mt a year ago, SGX data showed Friday.

The iron ore lump premium contracts are settled against the Platts spot lump premium assessment.

The traded volume of lump premium contracts has risen since August last year, when S&P Global Platts increased the frequency of the physical lump assessment from weekly to daily.

The average open interest for iron ore lump contracts in February stood at 1 million mt.

However, on a month-on-month basis, volumes traded declined by 64% from 1.1 million mt traded in January.

Industry sources said the slide in traded volume was due to a slowdown in trade activity during the Lunar New Year holiday period.

The traded volume for iron ore fines contracts also slid month on month in February, by 17%, to 93.5 million mt.

The average open interest for iron ore fines contracts in February stood at 121.9 million mt.

SGX iron ore fines contracts are settled against TSI's Iron Ore CFR China index.

--Takmila Shahid, takmila.shahid@spglobal.com
--Edited by Geetha Narayanasamy, geetha.narayanasamy@spglobal.com

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