Iron ore futures declined on Tuesday, pressured by an increase in shipments from major producers and lingering uncertainty over steel demand.
Market sources noted that iron ore shipments from Australia and Brazil surged nearly 9pct this week compared to the previous week, fueling concerns of oversupply. However, continued high output from blast furnace-based steel mills helped limit the downside for iron ore prices.
According to the China Iron and Steel Association (CISA), inventories of five major steel products, rebar, wire rod, HRC, CRC, and plates, fell 1.3pct during June 11-20 compared to the first ten days of June. While inventories of long steel products declined, those of flat products increased.
Despite relatively firm near-term steel demand, the broader outlook remains uncertain. Seasonal factors such as a summer lull in construction, along with structural challenges including the ongoing property sector crisis, continue to weigh on market sentiment.
On the Dalian Commodity Exchange, the most-traded September iron ore contract dropped 0.42pct to 703 yuan (USD 97.8) per ton. Coke futures fell 2.03pct to 1,351.5 yuan (USD 188), and coking coal declined 1.94pct to 784 yuan (USD 109) per ton.
On the Shanghai Futures Exchange, rebar futures slipped 0.53pct to 2,977 yuan (USD 414) per ton, HRC fell 0.51pct to 3,099 yuan (USD 431), and wire rod dropped 0.9pct to 3,288 yuan (USD 458). Stainless steel futures edged down 0.28pct to 12,440 yuan (USD 1,731) per ton.
1 USD / 7.18 yuan
CHINESE STEEL FUTURES
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Date: 6/24/2025 |
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| Material | Closing Price (in yuan) |
Difference from Night Session (pct) |
Difference from Previous Morning Session (pct) |
| Wire Rod | 3,288 |
-0.90 |
-0.52 |
| HRC | 3,099 |
-0.51 |
-0.42 |
| Rebar | 2,977 |
-0.53 |
-0.60 |
| Stainless Steel | 12,440 |
-0.28 |
0.40 |
| Iron Ore | 703 |
-0.42 |
-0.43 |
| Coke | 1,351.5 |
-2.03 |
-2.48 |
| Coking Coal | 784 |
-1.94 |
-2.93 |