China: Iron ore, steel futures close lower as govt seeks to cool markets

Iron ore futures at China’s Dalian Commodity Exchange (DCE) continued to fall as sentiments weakened after the government sought stricter oversight of commodity markets to curb soaring prices. The closing prices of the most-traded iron ore and steel futures contracts on 21 May’21 are:

• DCE iron ore futures Sep’21 contract closed at RMB 1,096.5/t ($170.5) (-RMB 46)
• SGX iron ore futures June’21 contract closed at $191.65/t (-$9.35)
• SHFE rebar futures Oct’21 contract closed at RMB 5,112/t ($795) (-RMB 62)
• SHFE HRC futures Oct’21 contract closed at RMB 5,493/t ($854) (-RMB 74)