Dalian iron ore futures climbed 2% d-o-d as China’s monthly crude steel output in Apr rose to 97.9 mn t to hit monthly and daily run-rate records, showing no sign of the industry cooling despite government attempts to rein in output. However, on the other side, SHFE rebar and HRC futures fell by 0.8% and 3%, respectively in today’s session.
The closing prices of the most-traded iron ore and steel futures on 17 May are as follows:
- DCE iron ore futures Sep contract closed at RMB 1,197.5/t (+24.5)
- SGX iron ore futures June contract closed at $205.80/t (+3.65)
- SHFE rebar futures Oct closed at RMB 5,596/t (-45)
- SHFE HRC futures Oct contract closed at RMB 5,949/t (-186)
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