China: Ferrous futures volatile on dull demand with advent of monsoon

Iron ore and steel futures in China continued to remain volatile on subdued steel demand in the rainy season. DCE iron ore futures dropped by 1.6% while SHFE rebar futures slipped 0.8% in today’s trading session. Closing prices of the most-traded ferrous futures contracts on 18 Jun’21 are:

• DCE iron ore futures Sept contract closed at RMB 1,203/t ($186.9) (-RMB 20.5)
• SGX iron ore futures Jul contract closed at $205.6/t (-3.38)
• SHFE rebar futures Oct contract closed at RMB 5,061/t ($786) (-40)
• SHFE HRC futures Oct contract closed at RMB 5,347/t ($831) (-24)