Iron ore futures fell again on Thursday as concerns over subdued demand continued to weigh on market sentiment. The commodity is under pressure from several headwinds, including renewed U.S.-China tensions and China’s sluggish economic growth.
Latest data showed Chinese bank loans in September rose less than expected, underlining persistent weakness in credit demand as the property sector crisis continues to drag on the economy.
At the same time, steel fundamentals remain soft, with rising inventories in the domestic market and higher production adding to supply pressures and driving finished steel prices lower.
Although Chinese mills are currently maintaining elevated production levels, declining profitability could force output cuts, which may curb iron ore consumption.
Market participants are also watching for potential stimulus measures from Beijing at a government meeting later this month that could help restore confidence in the steel sector.
On the Dalian Commodity Exchange, the most-traded January iron ore contract slipped 0.9pct to 773.5 yuan (USD 108.5) per ton. Coking coal futures gained 3.36pct to 1,185.5 yuan (USD 166), while coke rose 2.26pct to 1,672.5 yuan (USD 235) per ton.
On the Shanghai Futures Exchange, rebar inched up 0.16pct to 3,049 yuan (USD 428) per ton, HRC dipped 0.19pct to 3,219 yuan (USD 452), wire rod gained 0.72pct to 3,366 yuan (USD 472), and stainless steel advanced 0.48pct to 12,615 yuan (USD 1,770) per ton.
1 USD / 7.12 yuan
CHINESE STEEL FUTURES
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Date: 10/16/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,366 |
0.73 |
0.65 |
| HRC | 3,219 |
-0.19 |
0.22 |
| Rebar | 3,049 |
0.16 |
0.49 |
| Stainless Steel | 12,615 |
0.48 |
0.44 |
| Iron Ore | 773.5 |
-0.90 |
-0.39 |
| Coke | 1,672.5 |
2.26 |
1.82 |
| Coking Coal | 1,185.5 |
3.36 |
2.91 |
