Spot iron ore platforms see another scarce trading day as swaps hold steady

Multinational resource group BHP Billiton (NYSE: BHP) tendered a 70,000t shipment of its 57.7%-Fe Yandi fines at US$119.20/t on Tuesday (Oct 29), according to a report from shipbrokers Simpson, Spence and Young (SSY).

Meanwhile, China's Dalian Commodity Exchange (DCE) futures closed down 921 points versus 923 points recorded on the previous day, SSY said.

"Swaps and futures on the Singapore stock exchange printed 734,000t on the day with prices holding steady till just after index when they slipped lower for the afternoon session in thin trade," the report reads.

Prices for November and December shipments reached their highest marks at US$128.5 and US$127.00, respectively.

SHFE rebar for May 14 closed at 3,608 renminbi, according to SSY.

The TSI 62%-Fe iron ore benchmark decreased US$0.50 to US$131.30/t on Tuesday.