Author: Lalita
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China: Ferrous futures slump on production cut concerns
Iron ore and steel futures fell by 3.5% d-o-d as the focus of the Chinese steel market shifted again towards output cuts amidst power shortfalls. DCE iron ore futures Jan’22 contract: RMB 769.5/t ($119/t) (-RMB 28/t) SGX iron ore futures Nov contract: $127.50/t (-$7.8/t) SHFE rebar futures Jan’22 contract: RMB 5,562/t ($862) (-RMB 246/t) SHFE…