Iron ore futures on China’s exchanges dropped 5.5% on 5 Aug’21, with the most-traded delivery contract swapping to Jan’22. The iron ore and steel futures market was bearish, as steel consumption decelerated amid production cuts. Closing prices of the most-traded iron ore and steel futures contracts:
- DCE iron ore futures Jan’22 contract closed at RMB 888.5/t ($138) (-52.5)
- SGX iron ore futures Sept’21 contract closed at $166.15/t (-13.25)
- SHFE rebar futures Oct’21 contract closed at RMB 5,373/t ($832) (-RMB 81)
- SHFE HRC futures Oct’21 contract closed at RMB 5,733/t ($887) (-RMB 120)
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