Iron ore futures fell on Tuesday as weak steel demand weighed on market sentiment.
Pre-holiday restocking ahead of China’s early October holidays provided some support, but sluggish steel consumption and high production levels continued to fuel oversupply, pressuring prices. Sentiment was further dampened after Beijing unveiled a work plan to curb new steel capacity and address overcapacity in the sector.
Longer-term outlook also faces headwinds from rising protectionist measures against Chinese steel exports, which have so far helped offset weak domestic demand. Still, markets expect additional policy support as authorities seek to achieve the government’s 5pct growth target.
On the Dalian Commodity Exchange, the most-traded January iron ore contract slipped 1.23pct to 802.5 yuan (USD 112.8) per ton. Coking coal futures dropped 0.94pct to 1,217.5 yuan (USD 171), while coke fell 0.67pct to 1,717.5 yuan (USD 242).
On the Shanghai Futures Exchange, rebar futures declined 1pct to 3,155 yuan (USD 444), HRC fell 1.33pct to 3,340 yuan (USD 470), wire rod eased 0.36pct to 3,277 yuan (USD 461), and stainless steel edged down 0.15pct to 12,890 yuan (USD 1,813) a ton.
1 USD / 7.11 yuan
CHINESE STEEL FUTURES
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Date: 9/23/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,277 |
-0.36 |
-0.24 |
| HRC | 3,340 |
-1.33 |
-1.20 |
| Rebar | 3,155 |
-1.00 |
-0.95 |
| Stainless Steel | 12,890 |
-0.15 |
-0.16 |
| Iron Ore | 802.5 |
-1.23 |
-0.75 |
| Coke | 1,717.5 |
-0.67 |
-0.03 |
| Coking Coal | 1,217.5 |
-0.94 |
0 |
