Iron ore futures fell on Tuesday due to ongoing concerns about weak demand.
Weak steel mills’ margins and mounting port-side inventories, compounded by increased imports from major miners, dampened market sentiment.
The steel futures market also suffered as adverse weather conditions in various regions further impacted demand. Additionally, Vietnam’s initiation of an antidumping investigation against Chinese HRC imports fueled demand worries.
On the Dalian Commodity Exchange, iron ore futures for September delivery fell by 2.77pct to 756 yuan (USD 104.1) per ton. Dalian coke and coking coal futures declined by 2.44pct and 2.16pct, respectively, to 2,022 yuan (USD 279) and 1,446.5 yuan (USD 199) per ton.
On the Shanghai Futures Exchange, rebar futures decreased by 1.73pct to 3,301 yuan (USD 455) per ton, HRC futures dropped by 2.43pct to 3,448 yuan (USD 475) per ton, and wire rod futures fell by 2.31pct to 3,294 yuan (USD 454) per ton. Stainless steel futures edged down slightly by 0.14pct to 13,905 yuan (USD 1,916) per ton.
1 USD / 7.25 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,294 |
-2.31 |
-2.67 |
| HRC | 3,448 |
-2.43 |
-2.20 |
| Rebar | 3,301 |
-1.73 |
-1.88 |
| Stainless Steel | 13,905 |
-0.14 |
-0.32 |
| Iron Ore | 756 |
-2.77 |
-3.24 |
| Coke | 2,022 |
-2.44 |
-2.35 |
| Coking Coal | 1,446.5 |
-2.16 |
-2.11 |
