The 5th Singapore Iron Ore Week, jointly organized by Custeel and the Singapore Exchange (SGX), was back again from 23rd to 28th April 2017. The Singapore Iron Ore Week has been the most anticipated annual event in the global iron ore and steel industry, bringing together more than 1,000 guests from well-known mines, steel mills, trading companies, financial institutions and steel industry related businesses.
The Iron Ore Forum is an important part of the 2017 Singapore Iron Ore Week. The theme of this year’s forum was “Embracing Today’s Market Dynamics, Redefining Tomorrow’s Steel Value Chain”. The forum had centered around topics such as the macroeconomic trends of the world’s largest iron ore market – China, the overall global iron ore market outlook in 2017, and the development and innovation of the iron ore markets, coking coal markets, steel spot markets and futures trading markets.
As a financial institution with strong presence in the industry, Straits Financial Group continues to engage and participate in the event as a Diamond sponsor. The forum was held on 27th April at the Marina Bay Sands Convention and Exhibition Centre in Singapore.
At the exhibition booth, Straits had many pleasant and in-depth discussions with the guests. From the conversations, it was mentioned that the recent ferrous metals market is starting to bounce back after a period of slumping prices. Many believed that in the short-term, under the influence of favourable policies, a strong rebound in rebar has driven the prices of raw materials up and there is still more room for upswing. But the fundamentals of iron ore has not changed significantly, and with the current price, Chinese and global mines are not going to cut production. Moreover, after March and April, the drop in demand will have a certain suppression effect on the ferrous metal market, iron ore prices are still likely to go down under pressure.
The Gala Dinner 2017 was the networking highlight of the forum, creating a valuable platform for all participants of the event to interact.
The Voice of Iron Ore 2017 champion performing at the Gala Dinner.
During the Iron Ore Week, Straits Financial collaborated with various organisations to organise several events. On 26th April, Straits Financial and Chicago Mercantile Exchange (CME) jointly organised a seminar on Iron Ore: Risk Management and Hedging with Options & Structured Products.
Straits Financial options specialist, Theodore, is explaining to the attendees on options hedging strategies.
Straits Financial’s Cocktail Reception on the night of 26th April, supported and sponsored by Dalian Commodity Exchange (DCE), received overwhelming responses with more than 200 guests attending the event.
DCE Industrial Products Division Assistant Director, Wang Shumei giving her welcome speech.
In addition to the forum, a series of recreational activities such as basketball and soccer matches during the annual Singapore Iron Ore Week was well participated among many industry elites.
Straits Financial soccer team came in third in the soccer match.
We look forward to seeing you again in next year’s Singapore Iron Ore Week!