China: Iron ore, steel futures edge down as govt steps in to control prices

Iron ore and steel futures in China remained range-bound in the afternoon session on 25 May’21 after the Chinese government warned of strict action against speculative trading amid rising commodity prices. The closing prices of the most-traded iron ore and steel futures contracts on 25 May’21 are:

• DCE iron ore futures Sep’21 contract closed at RMB 1,058/t ($165) (-RMB 6)
• SGX iron ore futures June’21 contract closed at $184.2/t (+1.5)
• SHFE rebar futures Oct’21 contract closed at RMB 4,919/t ($768) (-RMB 55)
• SHFE HRC Oct’21 contract closed at RMB 5,281/t ($824) (-RMB 35)