Iron ore futures declined on Tuesday as disappointing manufacturing data weighed on sentiment.
China’s manufacturing PMI edged up to 49.8 in September from the previous month but remained in contraction for the sixth straight month, according to the National Bureau of Statistics (NBS). A reading below 50 signals contraction.
The steel industry PMI fell more sharply, dropping from 49.8 in August to 47.7 in September, its second consecutive decline, underscoring continued challenges in the sector.
Iron ore prices also came under pressure as pre-holiday restocking wound down, while weak downstream steel demand raised doubts about the sustainability of current production levels.
Traders expect clearer market direction after China’s National Day and Mid-Autumn Festival holidays from October 1-8.
On the Dalian Commodity Exchange, the most-traded January iron ore contract decreased by 0.64pct to 780.5 yuan (USD 109.6) per ton. Coking coal futures dropped 3.88pct to 1,126 yuan (USD 158), while coke slid 4.16pct to 1,623 yuan (USD 228) per ton.
On the Shanghai Futures Exchange, rebar futures declined 1.13pct to 3,072 yuan (USD 431), HRC fell 1.54pct to 3,253 yuan (USD 457), wire rod inched lower 0.16pct to 3,200 yuan (USD 449), and stainless steel futures eased 0.43pct to 12,730 yuan (USD 1,788) per ton.
1 USD / 7.12 yuan
CHINESE STEEL FUTURES
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Date: 9/30/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,200 |
-0.16 |
0.63 |
| HRC | 3,253 |
-1.54 |
-1.11 |
| Rebar | 3,072 |
-1.13 |
-0.81 |
| Stainless Steel | 12,730 |
-0.43 |
-0.24 |
| Iron Ore | 780.5 |
-0.64 |
-0.45 |
| Coke | 1,623 |
-2.61 |
-1.48 |
| Coking Coal | 1,126 |
-3.88 |
-2.49 |
