Iron ore stockpiles at Chinese ports hit new high - BBG

Dhwani Mehta FXStreet

Iron-ore stockpiles at Chinese ports hit a new high, rising +3.3% to 123.5mln tons. This marks the biggest weekly percentage gain in fifteen months, Livesquawk reports data compiled by Bloomberg.

Analysts at Citi expect iron-ore prices to retreat sharply to $ 53/ ton in 2H 2017.

The AUD/USD pair remains better offered as the aforementioned news is a negative input for the prices, while investors’ focus remain on the RBA policy decision due out shortly.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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