Iron ore futures rose on Monday, supported by resilient short-term demand and optimism over potential stimulus measures, even as long-term demand concerns persisted.
Chinese steel production remained elevated, underpinned by steady demand, which in turn continued to support the iron ore market.
Investors are closely watching the upcoming session of China’s top legislature scheduled for late April, where discussions are expected to focus on addressing economic challenges stemming from foreign tariffs.
Analysts believe sustaining steel demand will likely require policy support from Beijing, especially in light of growing protectionist measures against Chinese steel products and ongoing trade tensions with the United States.
Meanwhile, Shagang, a major Chinese long steel producer, lowered its domestic prices by USD 7 per ton for sales between April 21-30, 2025.
On the Dalian Commodity Exchange, the most-traded September iron ore contract rose 1.27pct to 715.5 yuan (USD 98) per ton. Coke and coking coal futures also posted gains, rising 1.25pct and 1.27pct to 1,574 yuan (USD 216) and 956.5 yuan (USD 131) per ton, respectively.
On the Shanghai Futures Exchange, rebar futures climbed 0.81pct to 3,113 yuan (USD 426) per ton, while HRC futures rose 0.69pct to 3,209 yuan (USD 440). Wire rod futures were unchanged at 3,372 yuan (USD 462), and stainless steel futures inched down 0.08pct to 12,790 yuan (USD 1,752) per ton.
1 USD / 7.29 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,372 |
0 |
0.53 |
| HRC | 3,209 |
0.69 |
0.87 |
| Rebar | 3,113 |
0.81 |
1.19 |
| Stainless Steel | 12,790 |
-0.08 |
0.08 |
| Iron Ore | 715.5 |
1.27 |
2.31 |
| Coke | 1,574 |
1.25 |
1.37 |
| Coking Coal | 956.5 |
1.27 |
0.43 |