Iron ore futures ended flat on Wednesday after an initial pullback, as the market remained cautious about demand outlook.
Expectations of improved demand during the peak consumption season encouraged steel mills to replenish iron ore inventories, providing some support. However, concerns over weak steel mill margins and potential production curbs continue to pose risks to long-term iron ore consumption, according to analysts.
On the Dalian Commodity Exchange, the most-traded iron ore futures contract closed unchanged at 754.5 yuan (USD 105.9) per ton. Dalian coke and coking coal futures gained 0.68pct and 0.8pct to 1,988.5 yuan (USD 279) and 1,382 yuan (USD 194) per ton, respectively. All three steelmaking raw material futures posted losses compared to yesterday’s morning session.
On the Shanghai Futures Exchange, rebar futures rose 0.21pct to 3,264 yuan (USD 458) per ton, while HRC futures edged lower to 3,321 yuan (USD 466) per ton. Wire rod futures increased by 0.89pct to 3,270 yuan (USD 459) per ton, and stainless steel futures slightly decreased by 0.14pct to 13,845 yuan (USD 1,944) per ton.
1 USD / 7.12 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,270 |
0.89 |
0.46 |
| HRC | 3,321 |
-0.18 |
-0.24 |
| Rebar | 3,264 |
0.21 |
0.46 |
| Stainless Steel | 13,845 |
-0.14 |
-0.47 |
| Iron Ore | 754.5 |
0 |
-0.46 |
| Coke | 1,988.5 |
0.68 |
-0.08 |
| Coking Coal | 1,382 |
0.80 |
-0.11 |
