Iron ore futures fell on Tuesday, weighed down by a bearish demand outlook amid rising shipments and expectations of weakening steel consumption.
According to analysts, weekly shipments from key suppliers Australia and Brazil have increased, putting additional pressure on iron ore prices.
Seasonal factors are also contributing to the softening demand, as summer rains in southern China typically slow construction activity. Despite a recent decline in finished steel inventories at major Chinese warehouses, demand is expected to remain subdued.
Reflecting market caution, leading flat steel producer Baosteel has kept its prices unchanged for July sales.
Broader concerns are also dampening sentiment. The ongoing crisis in China’s property sector, trade tensions between Beijing and Washington, and growing protectionist measures by several major steel-importing countries against Chinese steel products continue to pose significant headwinds for iron ore demand.
On the Dalian Commodity Exchange, the most-traded September iron ore contract fell 0.85pct to 698.5 yuan (USD 97.20) per ton. In contrast, coke and coking coal futures rose by 0.48pct and 0.51pct to 1,349 yuan (USD 188) and 785 yuan (USD 109) per ton, respectively.
Over on the Shanghai Futures Exchange, rebar futures edged down 0.07pct to 2,974 yuan (USD 414), while HRC futures held steady at 3,089 yuan (USD 430). Wire rod futures slipped 0.12pct to 3,295 yuan (USD 458), and stainless steel futures dropped 1.46pct to 12,460 yuan (USD 1,734) per ton.
1 USD / 7.18 yuan
CHINESE STEEL FUTURES
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Date: 6/10/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,287 |
0.98 |
-0.15 |
| HRC | 3,089 |
0 |
-0.19 |
| Rebar | 2,974 |
-0.07 |
-0.24 |
| Stainless Steel | 12,460 |
-1.46 |
-1.57 |
| Iron Ore | 698.5 |
-0.85 |
-0.64 |
| Coke | 1,349 |
0.48 |
0.74 |
| Coking Coal | 785 |
0.51 |
0.64 |