Benchmark DCE iron ore futures today remained range-bound on a d-o-d basis amid stricter curbs in China. China’s state planner and industry ministry yesterday said that they would launch an inspection on implementation of steel capacity cut in the past few years, and reiterated fewer crude steel output in 2021 to reduce emissions. Meanwhile, steel futures in China continued to rally amid positive sentiments. The closing prices of most-actively traded iron ore and steel futures on 02 Apr ’21 are as follows:
- DCE iron ore futures Sep contract closed at RMB 975.5/t (+3.5)
- SGX iron ore futures May contract closed at $157.2/t (0)
- SHFE rebar futures May contract closed at RMB 5157/t (+154)
- SHFE HRC futures May contract closed at RMB 5,556/t (+89)
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