Iron ore futures declined on Friday as persistent demand concerns and shrinking steel mill margins weighed on market sentiment.
Market participants reported reduced steel production levels as Chinese mills faced tighter profit margins. While earlier supported by higher output, iron ore prices have come under pressure from subdued steel demand.
Adding to the outlook, reports indicate that Chinese authorities may impose environmental-related production curbs in Tangshan, one of the country’s key steel hubs, which could further dampen iron ore consumption.
Meanwhile, Chinese leaders pledged to boost domestic consumption over the next five years and strengthen self-reliance in advanced technologies during a key political meeting this week. However, the absence of concrete measures for the struggling property sector disappointed investors.
Markets are now closely watching the upcoming U.S.-China meeting in Malaysia next week, hoping it might help ease ongoing trade tensions between the world’s two largest economies.
On the Dalian Commodity Exchange, the most-traded January iron ore contract fell 0.58pct to 771 yuan (USD 108.2) per ton, unchanged from last Friday’s morning close. Coking coal rose 1.42pct to 1,248.5 yuan (USD 175), and coke gained 1.53pct to 1,757.5 yuan (USD 247) per ton amid supply concerns linked to mine safety inspections, though both eased from Thursday’s session.
On the Shanghai Futures Exchange, rebar futures edged up 0.75pct to 3,046 yuan (USD 428) per ton. HRC dipped slightly to 3,250 yuan (USD 456), wire rod slipped 0.18pct to 3,343 yuan (USD 469), while stainless steel gained 0.71pct to 12,810 yuan (USD 1,799) per ton.
1 USD / 7.12 yuan
CHINESE STEEL FUTURES
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Date: 10/24/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,343 |
-0.18 |
-0.03 |
| HRC | 3,250 |
0.03 |
-0.18 |
| Rebar | 3,046 |
-0.75 |
-0.82 |
| Stainless Steel | 12,810 |
0.71 |
0.35 |
| Iron Ore | 771 |
-0.58 |
-0.78 |
| Coke | 1,757.5 |
1.53 |
-0.60 |
| Coking Coal | 1,248.5 |
1.42 |
-0.80 |
