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Iron-Ore Swaps Trading Drops 9.2% From Record on Price

Iron-ore swap volumes cleared by SGX Asia Clear dropped 9.2 percent in October from a record 17.7 million metric tons in the previous month because of a holiday in China and as prices stabilized.

While still more than double from the year-earlier period, the iron-ore swaps volume fell to 16.1 million tons from the previous month, according to data on the exchange’s website. Ore with 62 percent content delivered to the Chinese port of Tianjin gained 14 percent last month after jumping 17 percent in September and dropping 24 percent in August.