China: Ferrous futures rangebound on weak demand, output curbs

Iron ore and steel futures in China remained largely stable on 6 Aug’21, as weak seasonal demand and stricter steel production controls weighed on sentiments. Closing prices of the most-active contracts:

• DCE iron ore futures Jan’22 contract closed at RMB 895/t ($138) (+RMB 6.5)
• SGX iron ore futures Sept contract closed at $168.9/t (-2.7 RMB)
• SHFE rebar futures Oct contract closed at RMB 5,379/t ($832) (+RMB 6)
• SHFE HRC futures Oct contract closed at $5,772/t ($892) (+RMB 39)