China: Iron ore futures rise 4% on pre-holiday buying

Iron ore futures in China rose by 4% on 30 Sept’21 on strong restocking demand ahead of the Golden Week Holidays. Closing prices:

• DCE iron ore futures Jan’22 contract: RMB 721.5/t ($112) (+RMB 27.5)
• SGX iron ore futures Oct contract: $119.45/t (+$3.8)
• SHFE rebar futures Jan’22 contract: RMB 5,706/t ($883) (+RMB 49)
• SHFE HRC futures Jan’22 contract: RMB 5,713/t ($884) (+RMB 16)