Iron ore futures remained unchanged on Thursday, reflecting cautious sentiment in the market despite firm near-term demand. Restocking by Chinese steel mills ahead of winter continues to provide support for prices.
While uncertainty persists regarding steel demand, particularly for long steel products, during the traditional winter slowdown in construction activity, demand for flat steel remains stable. Robust export volumes are helping to offset domestic demand concerns.
Market participants are also anticipating potential stimulus measures from Beijing during a key December meeting, which could counterbalance risks of additional tariffs on Chinese goods from the incoming U.S. administration under President Trump.
However, long-term challenges, including higher port-side iron ore inventories and the potential environmental related curbs on heavy industries including steel, remain headwinds for the raw material.
On the Dalian Commodity Exchange, iron ore futures remained stable at 786.5 yuan (USD 108.5) per ton. Meanwhile, coke futures fell by 1.79pct to 1,865.5 yuan (USD 258) per ton, and coking coal futures declined 0.84pct to 1,242 yuan (USD 171) per ton.
On the Shanghai Futures Exchange, rebar futures rose by 0.42pct to 3,312 yuan (USD 457) per ton, while HRC futures gained 0.26pct to 3,474 yuan (USD 480) per ton. Wire rod futures increased by 0.39pct to 3,607 yuan (USD 498) per ton, and stainless steel futures climbed nearly 0.7pct, settling at 13,080 yuan (USD 1,806) per ton.
1 USD / 7.24 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,607 |
0.39 |
0.11 |
| HRC | 3,474 |
0.26 |
0.03 |
| Rebar | 3,312 |
0.42 |
0.09 |
| Stainless Steel | 13,080 |
0.69 |
0.15 |
| Iron Ore | 786.5 |
0 |
-0.70 |
| Coke | 1,865.5 |
-1.79 |
-2.12 |
| Coking Coal | 1,242 |
-0.84 |
-1.29 |
