China’s benchmark iron ore futures trading in Dalian Commodity Exchange today fell by RMB 26.5/t with most trading May delivery contract closing at RMB 984/t. Iron ore futures tumbled after the industry minister urged the steel industry to cut crude steel production next year (CY’21) amid the government’s carbon neutrality scheme. Meanwhile, SGX Jan ’21 iron ore futures declined by $3.2 to close at $158/t, SteelMint assessment shows. On the other hand, SHFE rebar and HRC futures picked up and closed at RMB 4,256/t and RMB 4,436/t, respectively.
Leave a Reply