Iron ore futures slipped on Friday, pressured by lingering demand concerns amid excess supply and potential steel output cuts.
Brazil, a major exporter, shipped a record 41.1 mln tons of iron ore in July, surpassing its previous peak of 39.5 mln tons set in December 2015, official data showed.
Market sources said steel mills in Tangshan, China’s key production hub, have been ordered to reduce output ahead of Beijing’s military parade in September, further weighing on sentiment.
Losses were capped by strong Chinese steel exports, supported by rising shipments of semi-finished products and healthy mill margins, which kept production levels elevated.
On the Dalian Commodity Exchange, the most-traded September iron ore contract eased 0.19pct to 790 yuan (USD 109.9) per ton but remained up 0.89pct from last Friday’s morning close. Coking coal rose 0.49pct to 1,227 yuan (USD 171), while coke futures dipped 0.27pct to 1,653.5 yuan (USD 230).
On the Shanghai Futures Exchange, rebar fell 0.71pct to 3,213 yuan (USD 447), HRC slipped 0.55pct to 3,428 yuan (USD 477), and wire rod edged down 0.23pct to 3,453 yuan (USD 481). Stainless steel inched up 0.19pct to 12,985 yuan (USD 1,808) a ton.
1 USD / 7.18 yuan
CHINESE STEEL FUTURES
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Date: 8/07/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,453 |
-0.23 |
-0.43 |
| HRC | 3,428 |
-0.55 |
-0.35 |
| Rebar | 3,213 |
-0.71 |
-0.56 |
| Stainless Steel | 12,985 |
0.19 |
-0.12 |
| Iron Ore | 790 |
-0.19 |
-0.38 |
| Coke | 1,653.5 |
-0.27 |
-0.85 |
| Coking Coal | 1,227 |
0.49 |
-0.20 |
