Ferrous futures prices in China saw an uptick on 27 May’21 even as volatility in steel prices reigned amid regulatory concerns. Iron ore futures on the Dalian Commodity Exchange (DCE) and Singapore Exchange (SGX) rose by 5% day-on-day. Steel futures on the Shanghai Futures Exchange (SHFE) gained by over 3% (d-o-d) in today’s afternoon session. The closing prices for the most-traded iron ore and steel futures contracts on 27 May’21 are:
- DCE iron ore futures Sep’21 contract closed at RMB 1,046.5/t ($164) (+RMB 52)
- SGX iron ore futures June’21 contract closed at $182.1/t (+9.75)
- SHFE rebar futures Oct’21 contract closed at RMB 4,817/t ($755) (+RMB 150)
- SHFE HRC futures Oct’21 contract closed at RMB 5,186/t ($813) (+RMB 169)
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