Iron ore costs less than $40/dry ton

The futures contracts for the supply of iron ore on the Singapore stock exchange fell to $39.74/ton on the background of the possible slowdown of growth in China.

The majority of active futures contracts for iron ore supply in Singapore fell below $40/ton, Bloomberg reports. A new sharp fall of listing is caused by the fear of investors on the demand fall for iron ore from China.

SGX AsiaClear  offers iron ore supply in Jan 2016 at $39.74/dry ton. On the commodity exchange market in Dalian iron ore with shipment in May 2016 fell by 3% within 3 hours to 293 yuans/ton – a new historical minimum.

On Friday iron ore in Qingdao rose by 1.2% to $44.5/ton. Ore reserves at the Chinese ports are at the maximum high levels from May 2015 and according to Shanghai Steelhome Information Technology they make up $87.65 mln tons as of the end of last week.