Iron ore futures declined on Thursday as concerns over potential output curbs and softening steel demand weighed on market sentiment.
The China Iron and Steel Association (CISA) confirmed that Beijing is actively enforcing its crude steel production mandate, reinforcing earlier reports that authorities are moving ahead with output restrictions. In March, China announced plans to restructure its vast steel industry through production cuts, though details on the timing and scale remain unclear.
Adding further pressure to the market is weakening steel demand, alongside lingering uncertainty from U.S.-China trade tensions, both contributing to a dimmer outlook for iron ore.
On the Dalian Commodity Exchange, the most-active September iron ore contract fell 2.73pct to 693.5 yuan (USD 96) per ton. Coke and coking coal futures also lost ground, down 2.25pct and 2.13pct, closing at 1,478 yuan (USD 205) and 894 yuan (USD 124) per ton, respectively.
Meanwhile, on the Shanghai Futures Exchange, rebar futures dropped 1.74pct to 3,052 yuan (USD 423) per ton. HRC fell 1.18pct to 3,191 yuan (USD 442), wire rod slid 0.43pct to 3,440 yuan (USD 476), and stainless steel edged down 0.31pct to 12,705 yuan (USD 1,759) per ton.
1 USD / 7.22 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,440 |
-0.43 |
0 |
| HRC | 3,191 |
-1.18 |
-0.81 |
| Rebar | 3,052 |
-1.74 |
-1.51 |
| Stainless Steel | 12,705 |
-0.31 |
-0.04 |
| Iron Ore | 693.5 |
-2.73 |
-2.09 |
| Coke | 1,478 |
-2.25 |
-1.96 |
| Coking Coal | 894 |
-2.13 |
-1.57 |