Iron ore futures edged higher on Monday, supported by robust trade figures, though lingering concerns over demand tempered gains.
China’s exports rose 5.8pct YoY in June 2025 (in USD terms), according to customs data. The surge is attributed to exporters accelerating shipments ahead of an August deadline tied to a temporary tariff truce between Beijing and Washington.
Steel exports also jumped over 9pct YoY in the first half of 2025, allowing Chinese producers to redirect supply to international markets amid subdued domestic demand.
However, the iron ore market continues to face headwinds. Imports grew by 8pct in the same period, raising concerns about oversupply. Moreover, Beijing’s renewed efforts to reduce excess steel capacity and environmental-related output curbs are expected to weigh on long-term iron ore demand. Rising global protectionist measures could also slow China’s steel export momentum in the second half of the year.
On the Dalian Commodity Exchange, the most-traded September iron ore contract inched up 0.26pct to 766.5 yuan (USD 106.9) per ton. Coking coal and coke futures gained 1.09pct and 1.15pct, settling at 1,525 yuan (USD 213) and 920 yuan (USD 128) per ton, respectively.
Meanwhile, on the Shanghai Futures Exchange, rebar rose 0.16pct to 3,138 yuan (USD 438) per ton, HRC edged up 0.09pct to 3,276 yuan (USD 457), and wire rod climbed 1.1pct to 3,400 yuan (USD 474). Stainless steel, however, slipped 0.24pct to 12,715 yuan (USD 1,774) per ton.
1 USD / 7.16 yuan
CHINESE STEEL FUTURES
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Date: 7/11/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,400 |
1.10 |
0.88 |
| HRC | 3,276 |
0.09 |
0.09 |
| Rebar | 3,138 |
0.16 |
0.16 |
| Stainless Steel | 12,715 |
-0.24 |
0.04 |
| Iron Ore | 766.5 |
0.26 |
0.33 |
| Coke | 1,525 |
1.09 |
0.36 |
| Coking Coal | 920 |
1.15 |
0.76 |
