Iron ore futures finished the daytime session little changed on Tuesday, with the market constrained by weak fundamentals and slowing activity in the physical steel market ahead of the Chinese New Year holidays.
Prices remain under pressure from higher port-side inventories, although a weekly decline in shipments from major miners helped futures avoid further losses. Some analysts said lower prices could encourage limited restocking by Chinese steel mills, but subdued steel demand continues to keep mills cautious.
In the physical market, Chinese steel traders reported a clear slowdown in activity as buyers avoid taking positions ahead of the holiday period. Market participants expect clearer price direction only after the holidays.
On the Dalian Commodity Exchange, the most-traded May iron ore contract settled unchanged at 761.5 yuan (USD 110) per ton. Coking coal and coke futures fell 1.67pct and 1.71pct to 1,119 yuan (USD 162) per ton and 1,665 yuan (USD 241) per ton, respectively.
Meanwhile, on the Shanghai Futures Exchange, rebar futures declined 0.55pct to 3,052 yuan (USD 443) per ton, while HRC eased 0.65pct to 3,220 yuan (USD 466). Wire rod futures slipped 0.63pct to 3,338 yuan (USD 483), while stainless steel futures edged up 0.18pct to 13,740 yuan (USD 1,986) per ton.
1 USD / 6.91 yuan
| Item | Closing Price (yuan) | Difference from Night Session (%) | Difference from Previous Morning Session (%) |
|---|---|---|---|
| Wire Rod | 3,338.00 | ▼ -0.63 | ▼ -0.51 |
| Hot Rolled Coils | 3,220.00 | ▼ -0.65 | ▼ -0.59 |
| Rebar | 3,052.00 | ▼ -0.55 | ▼ -0.39 |
| Stainless Steel | 13,740.00 | ▲ 0.18 | ▲ 0.04 |
| Iron ore | 761.50 | 0.00 | 0.00 |
| Coke | 1,665.00 | ▼ -1.71 | ▼ -2.31 |
| Coking Coal | 1,119.00 | ▼ -1.67 | ▼ -2.50 |
