China: Iron ore futures tumble as demand slides

Dalian iron ore futures fell by 4.7% on 21 Jul’21 as demand for the steelmaking raw material slumped, with Chinese mills reducing production following government notices. Closing prices of the most-traded iron ore and steel futures contract:

• DCE iron ore futures Sept contract closed at RMB 1,174/t ($181) (-RMB 59)
• SGX iron ore futures Aug contract closed at $202.20/t (-3.65)
• SHFE rebar futures Oct contract closed at RMB 5,561/t ($859) (-RMB 40)
• SHFE HRC futures Oct contract closed at RMB 5,918/t ($914) (-RMB 50)