Iron ore futures on the Dalian Commodity Exchange (DCE) today, on 07 Jul’21, picked up by 1% on the back of higher steel prices in China. Easing of production cuts in China’s top steel making city, Tangshan, and rising spot iron ore prices have also boosted sentiments in the futures market. Steel futures, on the other hand, rose by an average of 2.7% in today’s trading session. Closing prices of the most-active iron ore and steel futures contracts:
- DCE iron ore futures Sept contract closed at RMB 1,244/t ($192) (+RMB 13)
- SGX iron ore futures Aug contract closed at RMB 209.50/t (+0.65)
- SHFE rebar futures Oct contract closed at RMB 5,439/t ($841) (+135)
- SHFE HRC futures Oct contract closed at RMB 5,768/t ($892) (+164).
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