China: Iron ore futures inch up on tight supply

Dalian iron ore futures inched up by 0.6% on supply worries from Australia, while futures trading on the Singapore Exchange (SGX) remained stable d-o-d. SHFE steel futures moved up slightly by 0.7%, as per SteelMint’s assessment. Closing prices of the most-traded ferrous futures contracts:

• DCE iron ore futures Sept contract closed at RMB 1,233/t ($190) (+RMB 8)
• SGX iron ore futures Aug contract closed at RMB 213/t (0)
• SHFE rebar futures Oct contract closed at RMB 5,601/t ($864) (+RMB 33)
• SHFE HRC futures Oct contract closed at RMB 5,968/t ($921) (+RMB 42)