Iron ore futures slipped on Friday as ongoing Middle East tensions continued to drive volatility across commodity markets.
Prices came under pressure following the completion of feedstock restocking by Chinese steel mills ahead of the Qingming Festival (April 4-6). Weaker sentiment in global metals markets, along with oil prices rising above USD 100 per barrel, also weighed on prices.
High port-side iron ore inventories in China remained a key headwind for the market.
However, improving steel production and higher cost support linked to rising energy prices helped limit the decline.
On the Dalian Commodity Exchange, the most-traded May iron ore contract fell 0.5% to 799.5 yuan (USD 116.1) per ton, down 1.5% compared to the previous Friday’s close.
Coking coal and coke futures declined 1.2% and 0.86% to 1,112.5 yuan (USD 162) and 1,670 yuan (USD 243) per ton, respectively.
On the Shanghai Futures Exchange, rebar futures eased 0.23% to 3,097 yuan (USD 450) per ton, while HRC fell 0.24% to 3,265 yuan (USD 474). Wire rod futures rose 2.18% to 3,322 yuan (USD 483), and stainless steel futures increased 0.78% to 14,225 yuan (USD 2,067) per ton.
1 USD / 6.88 yuan
| Item | Closing Price (in yuan) | Difference from Night Session (pct) | Difference from Previous Morning Session (pct) |
|---|---|---|---|
| Wire Rod | 3,322.00 | ▲ 2.18 | ▼ -0.09 |
| Hot Rolled Coils | 3,265.00 | ▼ -0.24 | ▼ -0.37 |
| Rebar | 3,097.00 | ▼ -0.23 | ▼ -0.29 |
| Stainless Steel | 14,225.00 | ▲ 0.78 | ▲ 0.88 |
| Iron ore | 799.50 | ▼ -0.50 | ▼ -0.69 |
| Coke | 1,670.00 | ▼ -0.86 | ▼ -1.29 |
| Coking Coal | 1,112.50 | ▼ -1.20 | ▼ -1.71 |
