Iron ore futures rose on Wednesday, supported by cautious optimism over demand recovery despite ongoing headwinds.
A steady recovery in Chinese steel production continued to underpin iron ore consumption, while expectations of improved steel demand during the peak construction season also provided support.
However, high inventories at major Chinese ports remained a key pressure point, limiting further gains.
At the same time, easing tensions in the Middle East weighed on coking coal futures, dragging the broader ferrous complex lower and capping iron ore’s upside. Logistics disruptions also continued to slow steel export activity.
On the Dalian Commodity Exchange, the most-traded May iron ore contract edged up to 812 yuan (USD 118.1) per ton. Coking coal and coke futures fell 5.19pct and 2.62pct to 1,114.5 yuan (USD 162) and 1,675 yuan (USD 244) per ton, respectively.
On the Shanghai Futures Exchange, rebar futures declined 0.32pct to 3,120 yuan (USD 4524) per ton, while HRC fell 0.42pct to 3,287 yuan (USD 478). Wire rod futures dropped 0.88pct to 3,251 yuan (USD 473), and stainless steel futures decreased 0.32pct to 14,180 yuan (USD 2,063) per ton.
1 USD / 6.87 yuan
| Item | Closing Price (in yuan) | Difference from Night Session (pct) | Difference from Previous Morning Session (pct) |
|---|---|---|---|
| Wire Rod | 3,251.00 | ▼ -0.88 | ▼ -0.15 |
| Hot Rolled Coils | 3,287.00 | ▼ -0.42 | ▼ -0.21 |
| Rebar | 3,120.00 | ▼ -0.32 | ▼ -3.21 |
| Stainless Steel | 14,180.00 | ▼ -0.32 | ▲ 0.14 |
| Iron ore | 812.00 | ▲ 0.12 | ▲ 0.49 |
| Coke | 1,675.00 | ▼ -2.62 | ▼ -1.58 |
| Coking Coal | 1,114.50 | ▼ -5.19 | ▼ -3.05 |
