Iron ore futures rose slightly on Wednesday, supported by expectations of stronger steel output after environmental curbs on Tangshan mills were lifted last week. A drop in weekly shipments from major suppliers also buoyed sentiment.
However, weak finished steel demand continues to weigh on steel mills’ margins, raising concerns. Gains in iron ore were further capped by profit-taking. Reflecting subdued conditions, Baosteel kept its domestic HRC prices unchanged for October sales.
Analysts noted that long-term headwinds remain, including rising protectionist measures that could hinder China’s steel exports and the ongoing property sector crisis, which continues to suppress domestic demand.
On the Dalian Commodity Exchange, the most-traded January iron ore contract inched up 0.25pct to 805 yuan (USD 112.9) per ton. Coking coal dropped 1.93pct to 1,117 yuan (USD 157), while coke slipped 0.77pct to 1,603 yuan (USD 225).
On the Shanghai Futures Exchange, rebar futures fell 0.73pct to 3,109 yuan (USD 436), HRC eased 0.39pct to 3,342 yuan (USD 469), wire rod edged down 0.3pct to 3,277 yuan (USD 460), and stainless steel dipped 0.12pct to 12,915 yuan (USD 1,812) per ton.
1 USD / 7.12 yuan
CHINESE STEEL FUTURES
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Date: 9/10/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,277 |
-0.30 |
-0.31 |
| HRC | 3,342 |
-0.39 |
-0.21 |
| Rebar | 3,109 |
-0.73 |
-0.45 |
| Stainless Steel | 12,915 |
-0.12 |
-0.27 |
| Iron Ore | 805 |
0.25 |
0 |
| Coke | 1,603 |
-0.77 |
0.34 |
| Coking Coal | 1,117 |
-1.93 |
-0.58 |
