Iron ore futures rose slightly on Tuesday, supported by restocking activities from Chinese steel mills ahead of potential winter logistics disruptions. However, gains were limited by a weak outlook for steel demand and rising iron ore inventories at major Chinese ports.
Some steel producers in China are replenishing stocks to mitigate risks during the winter season, providing a degree of support to the iron ore market. Despite this, analysts warn that without additional policy measures from China, the steel sector’s prospects remain uncertain.
The futures market remains cautious, with sentiment largely shaped by policy expectations and near-term demand trends.
On the Dalian Commodity Exchange, iron ore futures increased by 0.32pct, closing at 783 yuan (USD 108.1) per ton. Meanwhile, coke and coking coal futures declined by 0.47pct and 0.97pct, settling at 1,909.5 yuan (USD 264) and 1,273 yuan (USD 176) per ton, respectively.
In the Shanghai Futures Exchange, most steel futures traded within narrow ranges with rebar futures fell 0.12pct to 3,303 yuan (USD 456) per ton. HRC futures remained steady at 3,475 yuan (USD 480) per ton. Wire rod prices rose 0.28pct to 3,605 yuan (USD 498) per ton. Stainless steel futures dropped significantly by 1.24pct to 13,095 yuan (USD 1,808) 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 | 3,605 |
0.28 |
0.19 |
| HRC | 3,475 |
0 |
0.35 |
| Rebar | 3,303 |
-0.12 |
0.18 |
| Stainless Steel | 13,095 |
-1.24 |
-0.99 |
| Iron Ore | 783 |
0.32 |
0.19 |
| Coke | 1,909.5 |
-0.47 |
-0.08 |
| Coking Coal | 1,273 |
-0.97 |
0 |
