Iron ore futures rose on Monday, buoyed by strong near-term fundamentals, though gains were capped by a weaker long-term outlook.
Support came from higher steel production, particularly among blast furnace-based producers benefiting from healthy margins. A recent drop in iron ore inventories at major Chinese ports also lent some support to prices. However, steel demand has been hit by heavy rains in parts of China, weighing on market sentiment.
Longer-term concerns persist, including growing protectionist measures targeting Chinese steel exports, potential production curbs, and ongoing weakness in the property sector.
On the Dalian Commodity Exchange, the most-traded September iron ore contract climbed 0.76pct to 790.5 yuan (USD 109.70) per ton. Coking coal gained 2.33pct to 1,141 yuan (USD 158), while coke slipped 0.15pct to 1,615 yuan (USD 224) per ton.
On the Shanghai Futures Exchange, rebar futures dipped 0.28pct to 3,204 yuan (USD 445), while HRC rose 0.26pct to 3,417 yuan (USD 474). Wire rod edged down 0.03pct to 3,447 yuan (USD 479), and stainless steel increased 0.47pct to 12,925 yuan (USD 1,794) per ton.
1 USD / 7.2 yuan
CHINESE STEEL FUTURES
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Date: 8/04/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,447 |
-0.03 |
0.44 |
| HRC | 3,417 |
0.26 |
0.47 |
| Rebar | 3,204 |
-0.28 |
0.03 |
| Stainless Steel | 12,925 |
0.47 |
0.66 |
| Iron Ore | 790.5 |
0.76 |
0.95 |
| Coke | 1,615 |
-0.15 |
1.86 |
| Coking Coal* | 1,141 |
2.33 |
13.67 |
