Dalian iron ore futures resumed trading on a weaker note after the holiday break, extending the bearish trend seen before the Chinese New Year holidays.
Higher iron ore inventories at major Chinese ports and rising global supply continue to pressure the market.
In the near term, attention is turning to March, traditionally the start of China’s peak steel demand season as weather conditions improve, construction activity resumes and manufacturing gathers pace after the winter slowdown. Softer raw material prices could support steelmakers’ margins if finished steel demand improves.
Markets are also awaiting policy signals from China’s Two Sessions, scheduled for early March, when authorities are expected to outline priorities under the upcoming 15th Five-Year Plan, setting the policy direction for the next five years.
On the Dalian Commodity Exchange, the most-traded May iron ore contract fell 1.79pct to 740.5 yuan (USD 107.1) per ton. Coking coal futures declined 1.65pct to 1,101.5 yuan (USD 159), while coke futures dropped 2.3pct to 1,634.5 yuan (USD 237) per ton.
On the Shanghai Futures Exchange, rebar futures eased 0.88pct to 3,027 yuan (USD 438) per ton, and HRC slipped 0.87pct to 3,195 yuan (USD 462). Wire rod edged up to 3,327 yuan (USD 482), while stainless steel futures gained 1.84pct to 14,085 yuan (USD 2,039) per ton.
1 USD / 6.9 yuan
| Item | Closing Price (in yuan) | Difference from Night Session (%) | Difference from Previous Morning Session (%) |
|---|---|---|---|
| Wire Rod | 3,327.00 | ▲ 0.09 | ▲ 0.18 |
| Hot Rolled Coils | 3,195.00 | ▼ -0.87 | ▼ -0.85 |
| Rebar | 3,027.00 | ▼ -0.88 | ▼ -0.93 |
| Stainless Steel | 14,085.00 | ▲ 1.84 | ▲ 1.60 |
| Iron Ore | 740.50 | ▼ -1.79 | ▼ -0.74 |
| Coke | 1,634.50 | ▼ -2.30 | ▼ -2.91 |
| Coking Coal | 1,101.50 | ▼ -1.65 | ▼ -1.77 |
