Iron ore futures fell on Friday as slowing demand ahead of China’s October holidays weighed on sentiment.
The market had been supported earlier in the week by pre-holiday restocking, but sources noted most mills have now replenished inventories, reducing buying interest. While higher steel output has underpinned iron ore prices, weak end-user demand is squeezing mill margins, raising concerns about the sustainability of current production levels.
Market sentiment was further pressured by reports that Europe may impose steep tariffs on Chinese steel. Rising protectionist measures have already clouded China’s steel export outlook. Strong exports this year have so far offset sluggish domestic demand.
On the Dalian Commodity Exchange, the most-traded January iron ore contract fell 1.74pct to 790 yuan (USD 110.7) per ton, down more than 2pct from last Friday’s close. Coking coal futures dropped 2.64pct to 1,196.5 yuan (USD 168), while coke slid 2.79pct to 1,692.5 yuan (USD 237) per ton.
On the Shanghai Futures Exchange, rebar futures declined 1.58pct to 3,114 yuan (USD 436), HRC fell 1.22pct to 3,313 yuan (USD 464), wire rod eased 1.02pct to 3,200 yuan (USD 449), and stainless steel slipped 0.58pct to 12,840 yuan (USD 1,800) per ton.
1 USD / 7.13 yuan
CHINESE STEEL FUTURES
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Date: 9/26/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,200 |
-1.02 |
-0.66 |
| HRC | 3,313 |
-1.22 |
-1.36 |
| Rebar | 3,114 |
-1.58 |
-1.70 |
| Stainless Steel | 12,840 |
-0.58 |
-0.70 |
| Iron Ore | 790 |
-1.74 |
-1.96 |
| Coke | 1,692.5 |
-2.79 |
-3.99 |
| Coking Coal | 1,196.5 |
-2.64 |
-3.18 |
