Iron ore futures extended gains on Friday, supported by expectations of restocking by Chinese steel mills and potential policy support from Beijing. Analysts believe these factors could provide short-term stability for prices.
However, uncertainties linger as high steel output and sluggish demand continue to pressure finished steel prices and mill margins. In the physical market, traders report slow demand and rising inventories. Export activity is also weak, with congestion at Chinese ports, particularly Tangshan, causing shipment delays of 20-25 days due to seasonal demand shifts, bad weather, and tighter inspections.
On the Dalian Commodity Exchange, the most-traded January iron ore contract rose 1.02pct to 795 yuan (USD 111.6) per ton. Coking coal gained 1.22pct to 1,161 yuan (USD 163), while coke climbed 1.86pct to 1,666.5 yuan (USD 234).
On the Shanghai Futures Exchange, rebar futures added 0.52pct to 3,103 yuan (USD 436), HRC gained 0.37pct to 3,285 yuan (USD 461), wire rod surged 3.01pct to 3,420 yuan (USD 480), while stainless steel slipped 0.12pct to 12,805 yuan (USD 1,798) per ton.
1 USD / 7.12 yuan
CHINESE STEEL FUTURES
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Date: 10/10/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,420 |
3.01 |
2.92 |
| HRC | 3,285 |
0.37 |
-0.03 |
| Rebar | 3,103 |
0.52 |
0.23 |
| Stainless Steel | 12,805 |
-0.12 |
-0.43 |
| Iron Ore | 795 |
1.02 |
0.57 |
| Coke | 1,666.5 |
1.86 |
0.75 |
| Coking Coal | 1,161 |
1.22 |
-0.26 |
