Steel futures on the Shanghai Futures Exchange (SHFE) surged today on positive demand outlook. Re-bar futures rose by as much as 4.2%, d-o-d, and HRC futures by 2%. On the contrary, the iron ore futures market continued its downtrend, falling by 2.2%. Closing prices of the most-active ferrous futures contracts on 9 Sept’21:
- SHFE re-bar futures Jan’22 contract closed at RMB 5,682/t ($880) (+RMB 230)
- SHFE HRC futures Jan’22 contract closed at RMB 5,893/t ($913) (+RMB 117)
- DCE iron ore futures Jan’22 contract closed at RMB 730/t ($113) (-RMB 17)
- SGX iron ore futures Oct contract closed at $129.40/t (-$2.55)
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