Iron ore futures edged slightly higher on Monday, buoyed by encouraging loan data from China, though lingering concerns about long-term demand continued to weigh on market sentiment.
According to data released by the People’s Bank of China, the country issued 9.78 trillion yuan (USD 1.36 trillion) in new yuan-denominated loans in the first quarter of 2025, up from 9.46 trillion yuan in the same period last year. China’s central bank publication affirmed room for more policy support, echoing Premier Li Qiang’s remarks that ample tools remain to counter external pressures, as authorities pledge stronger stimulus amid rising U.S. trade tensions.
In addition to strong lending data, rising domestic steel production and steady demand also provided a lift to iron ore prices.
Still, the market faces ongoing headwinds from protectionist measures targeting Chinese steel and the broader risks associated with the U.S.-China trade tensions, which continue to cloud the longer-term outlook.
Reflecting this mixed sentiment, Baosteel chose to keep its HRC prices unchanged for domestic sales in May, signaling a cautious approach amid global uncertainty.
On the Dalian Commodity Exchange, the most-traded September iron ore contract rose by 0.28pct to 706 yuan (USD 96.9) per ton. Coke and coking coal futures also saw gains, climbing 1.21pct and 0.84pct respectively, to 1,548 yuan (USD 213) and 905.5 yuan (USD 124) per ton.
Meanwhile, trading on the Shanghai Futures Exchange was more subdued. Rebar futures closed flat at 3,126 yuan (USD 429) per ton, while HRC futures nudged up 0.22pct to 3,242 yuan (USD 445). Wire rod prices advanced 0.33pct to 3,360 yuan (USD 462), and stainless steel futures rose 0.87pct, settling at 12,805 yuan (USD 1,759) per ton.
1 USD / 7.28 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,360 |
0.33 |
0.06 |
| HRC | 3,242 |
0.22 |
0 |
| Rebar | 3,126 |
0 |
-0.16 |
| Stainless Steel | 12,805 |
0.87 |
0.31 |
| Iron Ore | 706 |
0.28 |
-0.28 |
| Coke | 1,548 |
1.21 |
1.68 |
| Coking Coal | 905.5 |
0.84 |
1.44 |