Dalian iron ore futures on 15 Jul’21 rose by 1.18% on expectations of further policy support as China’s economy showed lower than expected growth of 7.9% in Q2 CY’21, mainly attributed to slowdown in industrial activities, higher raw material costs and rising Covid-19 cases. Shanghai steel futures, on the other hand, witnessed a 0.6% drop d-o-d. Closing prices of the most-traded ferrous futures contracts:
- DCE iron ore futures Sept contract closed at RMB 1,234/t ($191) (+RMB 14.5)
- SGX iron ore futures Aug contract closed at $213.9/t (+3.45)
- SHFE rebar futures Oct contract closed at RMB 5,546/t ($859) (-RMB 34)
- SHFE HRC futures Oct contract closed at RMB 5.962/t ($923) (-RMB 37)
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