Iron ore futures prices rose on Friday, driven by a batch of improved economic indicators that boosted market sentiment.
China’s December economic data significantly outperformed analysts’ expectations, with Q4 GDP growing by 5.4pct YoY, up from 4.6pct in Q3. This growth lifted China’s full-year GDP to 5pct in 2024, aligning with the official target, according to the National Bureau of Statistics (NBS).
The property sector showed signs of recovery, with prices of new homes in China’s first-tier cities, including Beijing and Shanghai, rising by 0.2pct from the previous month, as reported by the NBS.
China’s total crude steel output reached 1 bln tons in 2024, despite a 1.7pct YoY decline, according to the NBS.
On the Dalian Commodity Exchange, iron ore futures increased by 1.71pct to 803.5 yuan (USD 109.5) per ton, posting a 6.64pct weekly gain. Coke and coking coal futures also advanced, rising by 1.75pct to 1,798 yuan (USD 245) and 2.4pct to 1,175.5 yuan (USD 160) per ton, respectively.
On the Shanghai Futures Exchange, rebar futures climbed by 1.93pct to 3,372 yuan (USD 460) per ton, while HRC futures grew by 1.52pct to 3,484 yuan (USD 475) per ton. Wire rod futures rose by 0.7pct to 3,604 yuan (USD 491) per ton, and stainless steel futures increased by 0.99pct to 13,320 yuan (USD 1,816) per ton.
1 USD / 7.33 yuan
| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,604 |
0.70 |
0.31 |
| HRC | 3,484 |
1.52 |
1.06 |
| Rebar | 3,372 |
1.93 |
1.33 |
| Stainless Steel | 13,320 |
0.99 |
0.68 |
| Iron Ore | 803.5 |
1.71 |
0.81 |
| Coke | 1,798 |
1.75 |
0.64 |
| Coking Coal | 1,175.5 |
2.40 |
0.94 |
