Iron ore futures were flat on Wednesday as an uncertain demand outlook weighed on sentiment. The market continues to draw some support from restocking ahead of China’s October holidays and higher steel production in recent weeks.
However, weakening steel demand has raised concerns over the sustainability of current production levels, with rising inventories pressuring mill profitability. According to the China Iron and Steel Association (CISA), domestic inventories of the five main finished steel products (HRC, plates, CRC, rebar, and wire rod) rose 2.3pct in the first ten days of September.
Longer-term, iron ore faces headwinds from growing protectionist measures against Chinese steel exports, which have so far helped offset sluggish domestic demand.
On the Dalian Commodity Exchange, the most-traded January iron ore contract closed unchanged at 803.5 yuan (USD 112.7) per ton. Coking coal futures gained 1.24pct to 1,224.5 yuan (USD 172), while coke rose 1.14pct to 1,730 yuan (USD 243) a ton.
On the Shanghai Futures Exchange, rebar edged up 0.03pct to 3,164 yuan (USD 444) and HRC added 0.24pct to 3,357 yuan (USD 471). Wire rod fell 1.19pct to 3,236 yuan (USD 454), while stainless steel slipped 0.08pct to 12,895 yuan (USD 1,809) per ton.
1 USD / 7.12 yuan
CHINESE STEEL FUTURES
|
Date: 9/24/2025 |
||
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,236 |
-1.19 |
-1.27 |
| HRC | 3,357 |
0.24 |
0.51 |
| Rebar | 3,164 |
0.03 |
0.28 |
| Stainless Steel | 12,895 |
-0.08 |
0.04 |
| Iron Ore | 803.5 |
0 |
0.12 |
| Coke | 1,730 |
1.14 |
0.72 |
| Coking Coal | 1,224.5 |
1.24 |
0.57 |
