Dalian iron ore futures rose on Friday, supported by stable steel production levels and improved sentiment surrounding U.S.-China trade relations.
Daily crude steel output from member mills of the China Iron and Steel Association (CISA) averaged 2.07 mln tons during January 11-20, marking a slight 0.3pct increase compared to the first ten days of January.
Port-side iron ore inventories saw a slight weekly decline but remained elevated, posing a challenge for iron ore prices.
Market optimism also grew following remarks by U.S. President Donald Trump, who suggested a preference for avoiding tariffs on China and expressed confidence in reaching a trade deal. Adding to this sentiment, Xi Jinping, General Secretary of the Communist Party of China, emphasized the steel industry’s importance during a visit to Bensteel Group’s cold rolling mill in Benxi. Xi stated that steel is a critical foundation for the country’s economy and the broader real economy.
On the Dalian Commodity Exchange, iron ore futures rose 0.69pct to 806.5 yuan (USD 110.2) per ton, while coke and coking coal futures posted declines of 0.93pct and 1.39pct, settling at 1,764.5 yuan (USD 241) per ton and 1,131 yuan (USD 155) per ton, respectively.
On the Shanghai Futures Exchange, rebar futures increased 0.63pct to 3,377 yuan (USD 462) per ton, HRC futures rose 0.35pct to 3,473 yuan (USD 474) per ton, and wire rod futures edged up 0.14pct to 3,579 yuan (USD 489) per ton. However, stainless steel futures declined by 0.23pct to 13,040 yuan (USD 1,782) per ton.
1 USD / 7.31 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,579 |
0.14 |
0.06 |
| HRC | 3,473 |
0.35 |
0.46 |
| Rebar | 3,377 |
0.63 |
1.30 |
| Stainless Steel | 13,040 |
-0.23 |
-0.15 |
| Iron Ore | 806.5 |
0.69 |
0.62 |
| Coke | 1,764.5 |
-0.93 |
0.77 |
| Coking Coal | 1,131 |
-1.39 |
-0.13 |
