Iron Ore
View indicative pricing and leverage information for Iron Ore.
Iron Ore market insights
Pivot points are a technical indicator that traders use to predict upcoming areas of technical significance, such as support and resistance. They're calculated by averaging the high, low and closing prices of a previous period. That could be a day, a week or a month.
If a market is trading above its previous pivot point (known as P), it is seen as a bullish signal. If it is below, it is bearish.
Support and resistance levels are a core part of technical analysis, providing crucial insight into possible future price reversals.
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Iron Ore overview
Iron ore is a raw material used primarily in the production of steel, an iron alloy, and industrial applications like construction and automobile manufacturing. Iron ore is traded on the Dalian Commodity Exchange (DCE) and Chicago Mercantile Exchange (CME).
After crude oil, steel and iron together are the world’s second-largest commodity bloc. Australia, Brazil and China mine the largest share of global iron.
While operating costs for iron mines are some of the lowest of all metals, they require large capital investments in infrastructure. The price of iron is also dependent on fuel costs, government mining regulations, and transportation of the iron product.
| Margin from | 10.0 % |
| Trading hours | 24 hours a day, 7 days a week |
| Min trade size | 0 |
| Long | 0 |
| Short | 0 |
| Min stop distance | 0.0 Points |
| Guaranteed order minimum | 100 Points |
Spreads
| Spreads from | 2.0 Points |
Margins
| 0 - 7,500 | 10.0 % |
| 7,500 + | 20.0 % |
Dealing
| Spreads from | 2.0 Points |
Margins
| 0 - 7,500 | 10.0 % |
| 7,500 + | 20.0 % |
Precious metals news
Metals explained
Can you day trade precious metals?
Yes, you can day trade precious metals including gold, silver, platinum and more. To day trade these precious metals, you need to ensure that you aren’t keeping any positions open overnight – which avoids the risk of overnight gapping and funding charges impacting your bottom line.
CFD trading and spread betting are two popular tools for day trading precious metals. They enable you to speculate on metal prices without ever taking ownership of the markets themselves and provide access to leverage to make your capital go further – although leverage will also increase your risk.
How do you trade metals?
There are a few different ways to trade metals. Most metals trading in the open market is executed via futures – derivatives that involve trading a metal on a set date in the future at a price set today.
To buy and sell metals futures, you’ll need an account with a futures broker. Or, you can trade on market prices using CFDs or spread betting – which enable you to go long or short on metals without ever taking ownership of the underlying asset.
What are the trading hours for metals?
You can trade most metals – including gold, silver and platinum – 23 hours a day from Sunday night to Friday night, with a break from 10pm to 11pm UTC. However, there will be times when precious metal markets are more volatile and liquid than others.
Full week trading, including over the weekend, is available for gold with the XAU/USD 7-Day product.