Iron ore futures fell on Wednesday due to weak fundamentals impacting market sentiment. The decline is attributed to several factors: low steel mill margins, increasing portside inventory, a slowdown in steel demand, and rumored steel production cuts, all contributing to a bearish demand outlook for this key steelmaking input.
On the Dalian Commodity Exchange, iron ore futures for September delivery dropped by 0.36pct to 824 yuan (USD 113.5) per ton. Similarly, Dalian coke futures decreased by 0.09pct to 2,289.5 yuan (USD 315) per ton, and coking coal futures fell by 1.04pct to 1,616 yuan (USD 223) per ton.
Meanwhile, on the Shanghai Futures Exchange, rebar futures declined by 0.55pct to 3,614 yuan (USD 498) per ton. Hot-rolled coil (HRC) futures dropped by 0.42pct to 3,786 yuan (USD 522) per ton, and wire rod futures decreased by 0.57pct to 3,838 yuan (USD 529) per ton. In contrast, stainless steel futures rose by 0.54pct to 13,930 yuan (USD 1,919) 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 | 3,838 | -0.57 | -0.60 |
| HRC | 3,786 | -0.42 | -0.13 |
| Rebar | 3,614 | -0.55 | -0.11 |
| Stainless Steel | 13,930 | 0.54 | 0.75 |
| Iron Ore | 824 | -0.36 | 0.42 |
| Coke | 2,289.5 | -0.09 | 0.83 |
| Coking Coal | 1,616 | -1.04 | 0.06 |
