China’s steel futures dropped by over 6% on 2 Aug’21 – posting the biggest loss in 10 weeks. Sources expect that the Chinese government may come up with some revisions in its steel output reduction measures. Closing prices of the most-traded ferrous futures contracts:
- DCE iron ore futures Sept contract closed at RMB 1,054/t ($163) (+RMB 27)
- SGX iron ore futures Sep contract closed at $178.45/t (+1.8)
- SHFE rebar futures Oct contract closed at RMB 5, 414/t ($838) (-RMB 323)
- SHFE HRC futures Oct contract closed at RMB 5,780//t ($895) (-RMB 389)
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