Iron ore futures rose on Monday, driven by new support measures for China’s struggling property sector.
Shanghai announced a relaxation of real estate policies, removing the distinction between ordinary and non-ordinary housing and offering expanded tax incentives for property transactions to stimulate the market.
While these measures sparked short-term optimism, the market remains cautious due to ongoing demand challenges.
Analysts warn that iron ore demand will likely continue to face headwinds. BMI, a Fitch Solutions company, forecasts an average price of USD 100 per ton for 2025, citing weak demand from China’s property sector as a major factor.
Higher port-side iron ore stockpiles, with imports on the rise, and the seasonal slowdown in steel demand in the winter period further weighs on the outlook. Analysts anticipate that long steel products will be particularly affected during the winter due to reduced construction activity. Meanwhile, stable or rising steel production amid weakening demand is expected to further pressure steel prices.
On the Dalian Commodity Exchange, the most-traded iron ore contract climbed 1.87pct to 761 yuan (USD 105.2) per ton. Coke and coking coal futures also rose, gaining 0.65pct and 0.51pct to 1,923 yuan (USD 266) and 1,276.5 yuan (USD 176) per ton, respectively.
On the Shanghai Futures Exchange, rebar futures increased by 0.06pct to 3,279 yuan (USD 453) per ton, while HRC rose by 0.38pct to 3,471 yuan (USD 480) per ton. Wire rod futures gained 0.53pct to 3,579 yuan (USD 495) per ton, and stainless steel futures were up 0.15pct to 13,310 yuan (USD 1,840) per ton.
1 USD / 7.23 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,579 |
0.53 |
0.53 |
| HRC | 3,471 |
0.38 |
1.47 |
| Rebar | 3,279 |
0.06 |
1.43 |
| Stainless Steel | 13,310 |
0.15 |
0.34 |
| Iron Ore | 761 |
1.87 |
3.29 |
| Coke | 1,923 |
0.65 |
1.09 |
| Coking Coal | 1,276.5 |
0.51 |
1.21 |
