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Hendren Group On Commodities As Iron Ore Rallied
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June 1, 2013 - Hendren Group is a finance management company dealing with investment methods and strategies. Based in Tokyo boasting a large base of private clients and a well skilled team of advisors, they conduct research and then subsequently develop short and long-term systematic approaches to achieving optimum returns on investments for themselves, their associates and for their current client base.
“China is developing a new system that will no longer use its decade-old import licensing process in an attempt to eliminate middlemen in the market who charge commissions for importing ore, in the mean time buyers are rallying to buy as many cargoes as they physically can, helping to drive iron ore price and freight rates up holding to sell in the coming weeks,” commented a senior analysts at Hendren Group.
Iron ore price gained more than 2 percent earlier this week aiding the start of a two-week rally that saw iron ore extend to 6 percent following a three-day holiday for commodity traders in China. The benchmark import standard price of 62% iron ore delivered this week to China's Tianjin port allows for fines that rose to 2.3 percent equating to $2.76 per dry metric ton, a combined trading value of $120.40 a dry metric ton.
Hendren Group analysts predict a steady decline in iron ore prices once China’s mills have reached sufficient capacity allowing smart trading until the end of 2013 calculated on China’s current slowdown that has had an average consumption level of more than 60 percent of the seaborne trade and the implementation of the new licensing process, giving steel mills the means to import directly lowering costs.
Hendren Group is set to continue to advise clients to acquire shares within the commodities markets and related sectors adding to successful diversified portfolios.
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