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China’s iron ore futures edged lower on Tuesday as weak steel demand, poor mill profitability and continued concerns over production cuts kept market sentiment under pressure.
Market insiders said negative sentiment persisted, with some steel mills gradually preparing for maintenance as losses weigh on production. Weak downstream demand and limited improvement in the seasonal peak have reduced confidence in a meaningful near-term recovery in iron ore consumption.
Chinese steel traders remained cautious, noting that the Golden September demand recovery has yet to translate into strong physical restocking, while domestic steel demand remains subdued and export activity shows limited improvement.
On the Dalian Commodity Exchange, the most-traded iron ore contract fell 0.56pct to 707.5 yuan (USD 105.3) per ton. Coking coal increased 0.06pct to 1,588 yuan (USD 237), while coke declined 0.27pct to 2,052 yuan (USD 306) per ton.
On the Shanghai Futures Exchange, HRC futures inched lower to 3,309 yuan (USD 493) per ton, while rebar futures increased 0.42pct to 3,110 yuan (USD 463) per ton. Wire rod futures rose 0.47pct to 3,410 yuan (USD 508) per ton, while stainless steel futures increased 0.22pct to 13,560 yuan (USD 2,020) per ton.
1 USD / 6.71 yuan
| Item | Closing Price (in yuan) | Difference from Night Session (pct) | Difference from Previous Morning Session (pct) |
|---|---|---|---|
| Wire Rod | 3,410.00 | ▲ 0.47 | ▲ 0.47 |
| Hot Rolled Coils | 3,309.00 | ▼ -0.09 | ▼ -0.03 |
| Rebar | 3,110.00 | ▲ 0.42 | ▲ 0.48 |
| Stainless Steel | 13,560.00 | ▲ 0.22 | ▲ 0.37 |
| Iron ore | 707.50 | ▼ -0.56 | ▼ -0.14 |
| Coke | 2,052.00 | ▼ -0.27 | ▼ -0.17 |
| Coking Coal | 1,588.00 | ▲ 0.06 | 0.00 |