Normal
The FMG beta to the iron ore price is very high. Iron Ore futs listed on the SGX did about 19% today according to ZH, after limit up moves on all Chinese exchanges.My , very likely the move was influenced by expectations around this weekends China National Peoples Congress, but I doubt many heavy players would be foolish enough to be short into an event like the NPC. Much more likely that interested participants would use todays move to initiate such positions.
The FMG beta to the iron ore price is very high. Iron Ore futs listed on the SGX did about 19% today according to ZH, after limit up moves on all Chinese exchanges.
My , very likely the move was influenced by expectations around this weekends China National Peoples Congress, but I doubt many heavy players would be foolish enough to be short into an event like the NPC. Much more likely that interested participants would use todays move to initiate such positions.
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