Iron ore futures in China fell by 1.7% today on expectations of price controls and steel output curbs. The China Iron and Steel Association (CISA) said yesterday that fast-rising iron ore prices are ‘unreasonable’, the industry should enhance exploitation of resources both at home and abroad and also improve rules for the futures market.
The closing prices of the most-traded iron ore and steel futures on 28 Apr are as follows:
- DCE iron ore futures Sep contract closed at RMB 1,138.5/t (-20)
- SGX iron ore futures May contract closed at $190.05/t (-0.25)
- SHFE rebar futures Oct contract closed at RMB 5,358/t (-53)
- SHFE HRC futures Oct closed at RMB 5,691/t (-61)
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