Iron ore futures rose on Tuesday, supported by a decline in imports and steady domestic steel demand. However, the market remains cautious due to lingering concerns over ongoing China-U.S. trade tensions.
Higher domestic steel production and firm demand contributed to the upward movement in iron ore prices. Still, the outlook remains clouded by protectionist measures targeting Chinese steel exports and broader geopolitical uncertainties.
Despite a strong performance in steel exports during Q1 2025, the long-term market sentiment remains fragile. Analysts are now awaiting key economic indicators expected later this week, when Beijing is set to release fresh data and potentially announce new stimulus measures to support economic growth.
On the Dalian Commodity Exchange, the most-traded September iron ore contract climbed nearly 1pct to 713 yuan (USD 97.6) per ton. Coke and coking coal futures also gained, rising 2.02pct and 0.72pct respectively, to 1,567 yuan (USD 215) and 908 yuan (USD 124) per ton.
Meanwhile, on the Shanghai Futures Exchange, rebar futures dipped 0.19pct to 3,122 yuan (USD 428) per ton, HRC futures declined 0.43pct to 3,228 yuan (USD 442) and wire rod prices fell 0.71pct to 3,336 yuan (USD 457). Stainless steel futures edged up 0.47pct, closing at 12,860 yuan (USD 1,761) per ton
1 USD / 7.3 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,336 |
-0.71 |
-0.72 |
| HRC | 3,228 |
-0.43 |
-0.43 |
| Rebar | 3,122 |
-0.19 |
-0.13 |
| Stainless Steel | 12,860 |
0.47 |
0.43 |
| Iron Ore | 713 |
0.99 |
0.98 |
| Coke | 1,567 |
2.02 |
1.21 |
| Coking Coal | 908 |
0.72 |
0.28 |