China: Iron ore, steel futures rangebound amidst weak demand

Iron ore and steel futures in China remained almost stable on 9 Sept’21 on demand concerns amidst fears of more steel production curbs. Closing prices of most-traded ferrous futures contracts:

• DCE iron ore futures Jan’22 contract closed at RMB 732.5/t ($114) (+RMB 3.2)
• SGX iron ore futures Oct contract closed at $128.40/t (-$1.25)
• SHFE rebar futures Jan’22 contract closed at RMB 5,640/t ($876) (-RMB 42)
• SHFE HRC futures Jan’22 contract closed at RMB 5,858/t ($910) (-RMB 35)