fmg and fe, page-1162

SGX TSI Iron Ore Futures
SGX TSI Iron Ore CFR China (62% FE Fines)
Date 10 May 2017

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7
0	Month	Last	Change Trend	DSP	Previous DSP	Change	PPrevious DSP
1	April FSP	69.97	Up
2	May	62.25	Then	62.53	60.76	+1.77	60.83
3	June	60.60	Down	61.75	59.95	+1.80	59.83
4	July	60.39		60.87	59.11	+1.76	58.88
5	August	59.38		60.01	58.28	+1.73	58.02
6	September	57.90		59.27	57.48	+1.79	57.23
7	October			58.61	56.79	+1.82	56.55
8	March 18			56.47	54.72	+1.75	54.37
9
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FSP February $88.07
March $86.84
April. $69.97
Trading on Wednesday had average volumes. Upward trend in the day session changed to moderate downward in the night session (see Last column).
Thursday outlook for FMG shares is negative with Wednesday's gains likely to be partially reversed.
Over the previous 3 days FMG shares, at 4.75, tested 6 months low. Yesterday’s gain was partly based on IO rise and partly on herd mentality. 8Y rise on DC Futures was mirrored by 25c share price rise (4pm)
April FSP is 69.97, approximately $17 down from the March average price.
May futures are closest to the spot price (in italics)
MBio 58%Fe is trading at approx $16 discount to 62%Fe

Always believe in large numbers.

SGX MB Iron Ore CFR China (58% FE Fines) Futures
April FSP $59.80
May. DSP $45.08 Prev. Settle Price $45.08