Following are comments from Freight Investor Services Ltd., a London-based broker of freight and commodity swaps, on iron-ore derivatives in a note sent yesterday. Iron-ore swaps, used to hedge against or bet on future prices of the steelmaking material, have advanced 13 percent in the past year, according to Clarkson Plc, the world’s biggest shipbroker.
“The market feels pretty balanced at these levels and it’s going to take the physical market to push the swaps into their next move.”
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