Steel futures in China rose by 2% on the back of higher prices and output control expectations. Iron ore futures, on the other hand, inched up on strong demand after Tangshan mills resumed production post the centenary celebrations of the Communist Party. Closing prices of the most-traded contracts of iron ore and steel futures on 06 Jul:
- DCE iron ore futures Sept contract closed at RMB 1,231/t ($191) (+RMB 6)
- SGX iron ore futures Aug contract closed at $208.70/t (0)
- SHFE rebar futures Oct contract closed at RMB 5,304/t ($821) (+ RMB 82)
- SHFE HRC futures Oct contract closed at RMB 5,604/t ($867) (+RMB 110)
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