{"id":89545,"date":"2026-05-05T09:29:21","date_gmt":"2026-05-05T01:29:21","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=88555"},"modified":"2026-05-05T09:29:21","modified_gmt":"2026-05-05T01:29:21","slug":"5-may-2026-futures-product-updates","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/5-may-2026-futures-product-updates\/","title":{"rendered":"5 May 2026: Futures Product Updates"},"content":{"rendered":"\n<div class=\"wp-block-uagb-separator uagb-block-b1f796a7\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong><strong>KGI Weekly Futures Update<\/strong><\/strong><\/p>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-5e0cd811\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Net Long\/Short and Price Comparison<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We highlight the key price levels that each participant switches their positions between net long and net short based on 2025 data.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>2025<\/strong><\/td><td><strong>Financial Institution (FI)<\/strong><\/td><td><strong>Manage Money (MM)<\/strong><\/td><td><strong>Physicals<\/strong><\/td><td><strong>Others<\/strong><\/td><\/tr><tr><td><strong>Net Long<\/strong><\/td><td>Below US$108\/mt<\/td><td>Above US$101\/mt<\/td><td>Below US$100\/mt<\/td><td>NA<\/td><\/tr><tr><td><strong>Net Short<\/strong><\/td><td>NA<\/td><td>Below US$101\/mt<\/td><td>Above US$101\/mt<\/td><td>Below US$108\/mt<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong><\/strong>\u00a0<\/td><td><strong>Net-position\u00a0WoW Change<\/strong>\u00a0<\/td><td><strong>Remarks<\/strong>\u00a0<\/td><\/tr><tr><td><strong>FI<\/strong>\u00a0<\/td><td>-5.98\u00a0<\/td><td>Decrease after increasing\u00a0for\u00a0three\u00a0consecutive weeks.\u00a0<\/td><\/tr><tr><td><strong>MM<\/strong>\u00a0<\/td><td>+14.07\u00a0<\/td><td>Increase after previous\u00a0week\u2019s\u00a0decline.\u00a0<\/td><\/tr><tr><td><strong>Physicals<\/strong>\u00a0<\/td><td>-8.56\u00a0<\/td><td>Decrease after previous week\u2019s incline\u00a0<\/td><\/tr><tr><td><strong>Others<\/strong>\u00a0<\/td><td>+0.48\u00a0<\/td><td>Increase after decreasing\u00a0for\u00a0eight\u00a0consecutive weeks.\u00a0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 1: Net-positions by participant segment and price comparison<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-31.png\" alt=\"\" class=\"wp-image-88574\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Long\/Short Traders Snapshot<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Managed Money.\u00a0<\/strong>The number of MM with long positions\u00a0remain\u00a0unchanged at\u00a0502.\u00a0Accordingly, the number of MM with short positions\u00a0increase\u00a0to 165 after\u00a0decreasing\u00a0for three consecutive weeks.\u00a0Seasonally,\u00a0more MMs are prone to long in 1HQ4 and 2HQ2, and there are more MMs with short positions in 1HQ2 and 1HQ3.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>483<\/td><td>350<\/td><td>423<\/td><td>427<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>219<\/td><td>121<\/td><td>176<\/td><td>131<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 2: Number of position holders iron ore futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-32.png\" alt=\"\" class=\"wp-image-88575\" style=\"aspect-ratio:1.5230340946508216;width:840px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Physicals.\u00a0<\/strong>The number of physicals\u00a0with long positions\u00a0slightly fell\u00a0to\u00a0100 after\u00a0rising\u00a0for two consecutive weeks.\u00a0Accordingly, the number of physicals\u00a0with short positions\u00a0increase\u00a0for three\u00a0consecutive weeks\u00a0to 152.\u00a0Seasonally,\u00a0more physicals are prone to being\u00a0long in 1Q, and there are more physicals\u00a0with short positions in Q4.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>131<\/td><td>163<\/td><td>135<\/td><td>145<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>90<\/td><td>128<\/td><td>77<\/td><td>107<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 3: Number of position holders iron ore futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-33.png\" alt=\"\" class=\"wp-image-88576\" style=\"aspect-ratio:1.5230340946508216;width:840px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Others.\u00a0<\/strong>The number of others with long positions\u00a0increase\u00a0for three\u00a0consecutive weeks\u00a0to\u00a097.\u00a0The number of others with short positions\u00a0remain\u00a0unchanged at\u00a090\u00a0after\u00a0previous week\u2019s\u00a0decline.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>112<\/td><td>119<\/td><td>131<\/td><td>131<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>70<\/td><td>73<\/td><td>68<\/td><td>83<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 4: Number of position holders iron ore futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-34.png\" alt=\"\" class=\"wp-image-88577\" style=\"aspect-ratio:1.5191726284910347;width:840px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/image-423.png\" alt=\"\" class=\"wp-image-88300\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">SGX Baltic Panamax Time Charter Average Futures<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">We highlight the key price levels that each participants switches their positions between net long and net short based on 2025 data.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>2025<\/strong><\/td><td><strong>Financial Institution (FI)<\/strong><\/td><td><strong>Manage Money (MM)<\/strong><\/td><td><strong>Physicals<\/strong><\/td><td><strong>Others<\/strong><\/td><\/tr><tr><td><strong>Net Long<\/strong><\/td><td>NA<\/td><td>Above US$7,000\/t<\/td><td>Below US$11,000\/mt<\/td><td>Below US$11,000\/mt<\/td><\/tr><tr><td><strong>Net Short<\/strong><\/td><td>NA<\/td><td>Below US$11,000\/mt<\/td><td>Above US$7,000\/t<\/td><td>Above US$7,000\/t<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong><\/strong>\u00a0<\/td><td><strong>Net-position\u00a0WoW Change<\/strong>\u00a0<\/td><td><strong>Remarks<\/strong>\u00a0<\/td><\/tr><tr><td><strong>FI<\/strong>\u00a0<\/td><td>-0.21\u00a0<\/td><td>Decrease\u00a0for three\u00a0consecutive weeks.\u00a0<\/td><\/tr><tr><td><strong>MM<\/strong>\u00a0<\/td><td>-0.20\u00a0<\/td><td>Decrease for\u00a0two\u00a0consecutive weeks.\u00a0<\/td><\/tr><tr><td><strong>Physicals<\/strong>\u00a0<\/td><td>+0.69\u00a0<\/td><td>Increase\u00a0for two consecutive weeks.\u00a0<\/td><\/tr><tr><td><strong>Others<\/strong>\u00a0<\/td><td>-0.29\u00a0<\/td><td>Decrease for two consecutive weeks.\u00a0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 5: Net-positions by participant segment and price comparison<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-35.png\" alt=\"\" class=\"wp-image-88578\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Long\/Short Traders Snapshot<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Managed Money.\u00a0<\/strong>The number of MM with long positions\u00a0remain\u00a0unchanged at\u00a056\u00a0after\u00a0previous week\u2019s\u00a0increase.\u00a0Accordingly, the number of MM with short\u00a0remain unchanged at\u00a021\u00a0after previous week\u2019s decline.\u00a0Seasonally,\u00a0more\u00a0MM\u00a0are prone to long in 1H, and there are more\u00a0MM\u00a0with short positions in 2H.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>48<\/td><td>50<\/td><td>47<\/td><td>51<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>20<\/td><td>20<\/td><td>20<\/td><td>20<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 6: Number of position holders freight futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-36.png\" alt=\"\" class=\"wp-image-88579\" style=\"aspect-ratio:1.5191726284910347;width:840px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Physicals.\u00a0<\/strong>The number of physicals\u00a0with long positions\u00a0rose for three\u00a0consecutive weeks\u00a0to 118.\u00a0Accordingly, the number of\u00a0physicals\u00a0with short positions\u00a0rose for three\u00a0consecutive weeks\u00a0to\u00a0118.\u00a0The number of physicals has been on a general upward trend since 2Q24, while\u00a0physicals\u00a0with short positions\u00a0generally saw\u00a0a downtrend since 2Q24.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>165<\/td><td>133<\/td><td>171<\/td><td>114<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>103<\/td><td>76<\/td><td>98<\/td><td>78<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 7: Number of position holders freight futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-37.png\" alt=\"\" class=\"wp-image-88580\" style=\"aspect-ratio:1.5230340946508216;width:840px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Others.\u00a0<\/strong>The number of others with long positions\u00a0remain\u00a0unchanged for\u00a0thirteen\u00a0consecutive weeks\u00a0at\u00a022\u00a0and the number of others with short positions\u00a0remain\u00a0unchanged at\u00a024\u00a0for\u00a0four\u00a0consecutive weeks.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><td colspan=\"2\"><strong>2023<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>26<\/td><td>28<\/td><td>43<\/td><td>39<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>20<\/td><td>20<\/td><td>20<\/td><td>20<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 8: Number of position holders freight futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"795\" height=\"522\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-38.png\" alt=\"\" class=\"wp-image-88581\" style=\"aspect-ratio:1.5230340946508216;width:840px;height:auto\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-38.png 795w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-38-300x197.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-38-768x504.png 768w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/image-425.png\" alt=\"\" class=\"wp-image-88303\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">SGX SICOM Rubber Futures \u2013 TSR20<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Net Long\/Short and Price Comparison<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We highlight the key price levels that each participants switch their positions between net long and net short based on 2025 data.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>2025<\/strong><\/td><td><strong>Financial Institution (FI)<\/strong><\/td><td><strong>Manage Money (MM)<\/strong><\/td><td><strong>Physicals<\/strong><\/td><td><strong>Others<\/strong><\/td><\/tr><tr><td><strong>Net Long<\/strong><\/td><td>Below US$2.05\/kg<\/td><td>Above US$1.70\/kg<\/td><td>Below US$1.65\/kg<\/td><td>Below US$2.05\/kg<\/td><\/tr><tr><td><strong>Net Short<\/strong><\/td><td>NA<\/td><td>Below US$1.70\/kg<\/td><td>Above US$1.65\/kg<\/td><td>NA<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong><\/strong>\u00a0<\/td><td><strong>Net-position\u00a0WoW Change<\/strong>\u00a0<\/td><td><strong>Remarks<\/strong>\u00a0<\/td><\/tr><tr><td><strong>FI<\/strong>\u00a0<\/td><td>-0.94\u00a0<\/td><td>Decrease\u00a0for\u00a0five\u00a0consecutive weeks.\u00a0\u00a0<\/td><\/tr><tr><td><strong>MM<\/strong>\u00a0<\/td><td>+1.18\u00a0<\/td><td>Increase\u00a0for\u00a0four\u00a0consecutive weeks.\u00a0<\/td><\/tr><tr><td><strong>Physicals<\/strong>\u00a0<\/td><td>-1.03\u00a0<\/td><td>Decrease after increasing\u00a0for two consecutive weeks.\u00a0<\/td><\/tr><tr><td><strong>Others<\/strong>\u00a0<\/td><td>+0.79\u00a0<\/td><td>Increase after decreasing\u00a0for two consecutive weeks.\u00a0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 9: Net-positions by participant segment and price comparison<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-39.png\" alt=\"\" class=\"wp-image-88582\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Long\/Short Traders Snapshot<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Managed Money.\u00a0<\/strong>The number of MM with long positions\u00a0increase\u00a0to\u00a0120\u00a0after previous week\u2019s decline.\u00a0Accordingly, the number of MM with short positions\u00a0increase\u00a0to\u00a033\u00a0after\u00a0previous week decline.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>106<\/td><td>91<\/td><td>114<\/td><td>56<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>38<\/td><td>26<\/td><td>63<\/td><td>21<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 10: Number of position holders rubber futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" width=\"801\" height=\"522\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-40.png\" alt=\"\" class=\"wp-image-88583\" style=\"aspect-ratio:1.5344987577453828;width:840px;height:auto\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-40.png 801w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-40-300x196.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-40-768x500.png 768w\" sizes=\"(max-width: 801px) 100vw, 801px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Physicals.\u00a0<\/strong>The number of physicals\u00a0with long positions\u00a0increase\u00a0to 38\u00a0after\u00a0previous week decline.\u00a0Accordingly, the number of physicals\u00a0with short positions\u00a0increase\u00a0to 43\u00a0after\u00a0previous week decline.\u00a0Seasonally,\u00a0more\u00a0physicals\u00a0are prone to long in\u00a0early\u00a0Q3, and there are more physicals\u00a0with short positions in Q4.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>50<\/td><td>41<\/td><td>39<\/td><td>48<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>31<\/td><td>23<\/td><td>26<\/td><td>28<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 11: Number of position holders rubber futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-41.png\" alt=\"\" class=\"wp-image-88584\" style=\"aspect-ratio:1.5344987577453828;width:840px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Others.\u00a0<\/strong>\u00a0The number of long holders\u00a0rose\u00a0to\u00a051\u00a0after\u00a0previous week\u2019s\u00a0decline.\u00a0Accordingly,\u00a0the\u00a0number of\u00a0short holders\u00a0increase\u00a0for\u00a0four\u00a0consecutive weeks\u00a0to\u00a044.\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td colspan=\"2\"><strong>2025<\/strong><\/td><td colspan=\"2\"><strong>2024<\/strong><\/td><\/tr><tr><td><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><td><strong>Long<\/strong><\/td><td><strong>Short<\/strong><\/td><\/tr><tr><td><strong>High<\/strong><\/td><td>62<\/td><td>42<\/td><td>77<\/td><td>48<\/td><\/tr><tr><td><strong>Low<\/strong><\/td><td>41<\/td><td>27<\/td><td>48<\/td><td>26<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Figure 12: Number of position holders rubber futures<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/05\/image-42.png\" alt=\"\" class=\"wp-image-88585\" style=\"aspect-ratio:1.5230340946508216;width:840px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: SGX, KGI Research<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Participant Category<\/strong><\/td><td><strong>Description<\/strong><\/td><\/tr><tr><td>Financial Institutions<\/td><td>An entity, such as a broker trading desk, bank trading desk or swap dealer, that uses the futures markets to manage or hedge the risk.<\/td><\/tr><tr><td>Managed Money<\/td><td>An entity that is engaged in organized futures trading on behalf of funds or other special investment purpose vehicles such as Pension Funds, Asset Managers, Hedge Funds, Proprietary Trading Groups, Family Offices, etc.<\/td><\/tr><tr><td>Physicals<\/td><td>An entity that predominantly engages in the physical markets and uses the futures markets to manage or hedge risks associated with the conduct of those activities. Such activities could include the production, processing, trading, packing or handling of a physical commodity, or the provision of transportation, warehousing or distribution services.<\/td><\/tr><tr><td>Others<\/td><td>Every other trader that is not placed into one of the other three categories. E.g., Broker Agency, Bank Agency, Inter-Dealer Brokers, etc.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-ed4e1152\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-075e5b76\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-0ad8dd24\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-dc1bd65c\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap \">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-2f4e392f wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater 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,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png\" alt=\"\" class=\"uag-image-69996\" width=\"760\" height=\"208\" title=\"2\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>KGI Weekly Futures Update SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures Net Long\/Short and Price Comparison We highlight the key price levels that each participant switches their positions between net long and net short based on 2025 data. 2025 Financial Institution (FI) Manage Money (MM) Physicals Others Net Long Below US$108\/mt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[34],"tags":[],"class_list":["post-89545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth-product-ideas"],"aioseo_notices":[],"uagb_featured_image_src":{"full":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/01\/Thumbnail-154.jpg?wsr",275,183,false],"thumbnail":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/01\/Thumbnail-154-150x150.jpg?wsr",150,150,true],"medium":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/01\/Thumbnail-154.jpg?wsr",275,183,false],"medium_large":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/01\/Thumbnail-154.jpg?wsr",275,183,false],"large":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/01\/Thumbnail-154.jpg?wsr",275,183,false],"1536x1536":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/01\/Thumbnail-154.jpg?wsr",275,183,false],"2048x2048":["https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2023\/01\/Thumbnail-154.jpg?wsr",275,183,false]},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/www.kgieworld.sg\/research\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"KGI Weekly Futures Update SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures Net Long\/Short and Price Comparison We highlight the key price levels that each participant switches their positions between net long and net short based on 2025 data. 2025 Financial Institution (FI) Manage Money (MM) Physicals Others Net Long Below 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