Iron ore futures fell on Wednesday, pressured by environmental-related production curbs in Tangshan, a major steelmaking hub in China.
Market sentiment weakened after Tangshan activated an emergency response to air pollution, raising concerns over potential steel output cuts. While demand has shown gradual improvement as blast furnaces resume operations, high portside inventories continue to weigh on prices.
Losses were partly limited by potential supply disruptions in Australia, the world’s largest iron ore exporter. A cyclone off the country’s northeast coast has threatened mining operations, prompting evacuations at Port Hedland, the world’s largest iron ore export port, and raising concerns over possible supply interruptions.
On the Dalian Commodity Exchange, the most-traded May iron ore contract declined 1.83pct to 806.5 yuan (USD 116.8) per ton. Coking coal and coke futures also fell by 1.78pct and 1.82pct to 1,241 yuan (USD 180) and 1,776 yuan (USD 257) per ton, respectively.
On the Shanghai Futures Exchange, rebar futures decreased 0.41pct to 3,132 yuan (USD 454) per ton, while HRC futures slipped 0.24pct to 3,313 yuan (USD 480) per ton. Wire rod futures declined 0.33pct to 3,324 yuan (USD 482), while stainless steel futures rose 1.26pct to 14,490 yuan (USD 2,099) per ton.
1 USD / 6.9 yuan
| Item | Closing Price (in yuan) | Difference from Night Session (pct) | Difference from Previous Morning Session (pct) |
|---|---|---|---|
| Wire Rod | 3,324.00 | ▼ -0.33 | ▼ -0.51 |
| Hot Rolled Coils | 3,313.00 | ▼ -0.24 | ▼ -0.33 |
| Rebar | 3,132.00 | ▼ -0.41 | ▼ -0.42 |
| Stainless Steel | 14,490.00 | ▲ 1.26 | ▲ 1.38 |
| Iron ore | 806.50 | ▼ -1.83 | ▼ -2.17 |
| Coke | 1,776.00 | ▼ -1.82 | ▼ -1.24 |
| Coking Coal | 1,241.00 | ▼ -1.78 | ▼ -0.68 |
