Iron ore futures remained steady on Tuesday, with the key steelmaking material continuing to face pressure due to weak demand.
Many Chinese steel mills are experiencing losses and reducing output through maintenance as steel demand remains subdued.
Despite a weekly decline in iron ore inventories, port-side stockpiles remain high, putting continued pressure on iron ore prices.
On the Dalian Commodity Exchange, the January 2025 iron ore futures contract closed unchanged at 734.5 yuan (USD 102.3) per ton.
Meanwhile, coke and coal prices extended their losses, dropping by 2.35pct and 2.98pct, respectively. Coke fell to 1,888 yuan (USD 263) per ton, while coal decreased to 1,337 yuan (USD 186) per ton.
On the Shanghai Futures Exchange, rebar futures fell by 1.95pct to 3,173 yuan (USD 442) per ton, HRC futures dropped by 1.62pct to 3,335 yuan (USD 465) per ton, and wire rod futures edged down by 0.09pct to 3,226 yuan (USD 449) per ton. Stainless steel futures also declined by 0.58pct to 13,675 yuan (USD 1,905) per ton.
1 USD / 7.17 yuan
