Iron ore futures inched up on Tuesday as investors weighed hopes of stronger demand once Beijing lifts steel production curbs after this week’s military parade against persistent signs of weak steel consumption.
Expectations of tighter steel mill margins kept gains in check, as slowing domestic steel demand and rising inventories continue to weigh on sentiment. Additional pressure may come from safety inspections in Shanxi province, raising concerns of coking coal supply disruptions.
Iron ore prices have recently found support from higher steel production, supported by strong exports and moderate domestic demand. However, heavy rains, extreme heat, and growing protectionist measures against Chinese steel could constrain export momentum.
On the Dalian Commodity Exchange, the most-traded January iron ore contract edged up 0.06pct to 771.5 yuan (USD 108.1) per ton. Coking coal fell 0.44pct to 1,112.5 yuan (USD 158), while coke slipped 0.80pct to 1,596.5 yuan (USD 224) per ton.
On the Shanghai Futures Exchange, rebar dipped 0.16pct to 3,117 yuan (USD 437), HRC dropped 0.36pct to 3,298 yuan (USD 462), and wire rod rose 0.34pct to 3,275 yuan (USD 459). Stainless steel futures gained 0.66pct to 12,960 yuan (USD 1,817) per ton.
1 USD / 7.13 yuan
CHINESE STEEL FUTURES
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Date: 9/2/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,275 |
0.34 |
0.31 |
| HRC | 3,298 |
-0.36 |
-0.15 |
| Rebar | 3,117 |
-0.16 |
0.06 |
| Stainless Steel | 12,960 |
0.66 |
0.08 |
| Iron Ore | 771.5 |
0.06 |
0.71 |
| Coke | 1,596.5 |
-0.44 |
0.13 |
| Coking Coal | 1,112.5 |
-0.80 |
-0.54 |
