Re-bar futures contracts on the Shanghai Futures Exchange (SHFE) fell by 2.8% d-o-d to a 10-day low, as slower-than-expected growth in industrial output and slowing down of activity in the construction sector in China start weighing on prices. On the other hand, DCE iron ore futures remained rangebound with slight correction. Closing prices of the most-traded ferrous futures contracts on 16 Aug:
- SHFE re-bar futures Jan’22 contract closed at RMB 5,328/t ($822) (-RMB 154)
- SHFE HRC futures Oct contract closed at RMB 5,703/t ($880) (-RMB 62)
- DCE iron ore futures Jan’22 contract closed at RMB 850.5/t ($131) (-RMB 9)
- SGX iron ore futures Sept contract closed at $161.1/t (+2)
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