China: Iron ore futures pick up on rising steel futures contracts

Dalian iron ore futures increased by 1.6%, d-o-d, on 3 Sept’21 following an uptick in steel futures. Re-bar and HRC futures on the Shanghai Futures Exchange (SHFE) jumped 2.5% and 2.8%, respectively. Closing prices for the most-traded ferrous futures:

• DCE iron ore futures Jan’22 contract closed at RMB 786/t ($122) (+RMB 12.5)
• SGX iron ore futures Oct contract closed at $146/t (+$6)
• SHFE rebar futures Jan’22 contract closed at RMB 5,408/t ($839) (+RMB 135)
• SHFE HRC futures Jan’22 contract closed at RMB 5,784/t ($897) (+RMB 213)