Iron Ore Firms On Simandou Suspension; SGX Front-Month Near $101.8
Rio Tinto formally suspended all activity at the SimFer mine site in Guinea after a contractor fatality, pending investigation. The company disclosed the suspension on 23 August.
The SGX TSI 62% Fe front-month traded near $101.8 per tonne this morning on exchange-linked screens and the chart you provided. Market participants marked up prices because the suspension could disrupt the path to first shipments.
Rio had targeted around November 2025 for initial exports from Simandou, so any delay matters for seaborne availability. Today’s bid therefore reflects concrete supply risk rather than sentiment alone.
Related ferrous markers look steady. U.S. Midwest HRC futures sit near $834 per short ton on official settlement pages, and LME Steel Scrap CFR Turkey trades around the mid-$340s to $350 per tonne.
These levels show no broad demand shock, which keeps the iron-ore move anchored to the company’s suspension notice. Your daily chart shows price above short-term moving averages and pressing the upper Bollinger Band.
RSI sits in the mid-60s and MACD flattens, signaling firm trend with modest momentum. Price faces resistance near $102–$102.5, with supports around $101.3, $100.8, and about $99.7.
The 4-hour view shows RSI in the low-to-mid-50s and MACD curling higher. That setup favors a push through $102 if buyers sustain closes above that level; a loss of $100.8 would likely return price to the $99–$100 range.
The chart’s yellow “Global Liquidity Index NDQ” rose into mid-August, then softened and stabilized. Because this overlay is not an official exchange series, use it only as a secondary gauge.
Hedgers can use SGX TSI 62% Fe futures and COMEX 62% Fe (Platts) futures, which cash settle against established indices; the COMEX contract size is 500 dry metric tons.
No major provider lists an ETF that directly holds iron-ore futures, so there are no direct iron-ore ETF flows to report.
Conclusion: The price firming toward $102 stems from a documented supply interruption at Simandou. Technicals are supportive but not stretched, and downstream steel indicators remain stable.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| GOLD | 4,461 | +1.78% | +33.20% | 4,383 | 4,503 | 4,421 | 139,824 |
| SILVER | 65.59 | +1.26% | +73.05% | 64.77 | 66.98 | 64.81 | 46,406 |
| BRENT | 88.88 | -0.03% | +34.42% | 88.91 | 90.07 | 88.12 | 29,713 |
| WTI | 83.11 | -0.11% | +31.57% | 83.20 | 84.35 | 82.40 | 166,848 |
| COPPER | 6.61 | +0.03% | +46.70% | 6.61 | 6.71 | 6.61 | 39,543 |
| LITHIUM | 75.20 | +1.47% | +62.95% | 74.11 | 75.80 | 75.08 | 89,275 |
| IRON ORE | 161.91 | — | +58.10% | 161.91 | 161.91 | 1 | |
| SOY | 1,184 | +3.20% | +17.05% | 1,148 | 1,199 | 1,168 | 163,179 |
| CORN | 480.50 | +10.02% | +29.34% | 436.75 | 480.75 | 459.50 | 341,248 |
| WHEAT | 655.00 | +3.93% | +29.70% | 630.25 | 657.75 | 631.50 | 128,793 |
| COFFEE | 317.25 | -5.51% | +0.67% | 335.75 | 321.20 | 313.55 | 21,747 |
| SUGAR | 16.43 | -1.79% | -3.01% | 16.73 | 17.11 | 16.22 | 171,992 |
| COCOA | 5,719 | +3.18% | -34.96% | 5,543 | 5,779 | 5,574 | 26,773 |
| ORANGE JUICE | 138.55 | -0.47% | -45.38% | 139.20 | 141.05 | 137.50 | 703 |
| COTTON | 85.03 | +2.33% | +26.78% | 83.09 | 82.90 | 81.96 | 16,546 |
| BEEF | 223.60 | -3.93% | -5.18% | 232.75 | 226.40 | 223.00 | 16,126 |
| CATTLE | 339.10 | -3.16% | -1.82% | 350.17 | 345.50 | 338.60 | 10,164 |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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