Iron ore futures on the Dalian Commodity Exchange (DCE) moved up 2% d-o-d while steel futures on the Shanghai Futures Exchange (SHFE) were up 3% in today’s session. The ferrous complex in China turned bullish after reports of easing production curbs in Tangshan. The closing prices of the most-traded iron ore and steel futures contracts on 3 Jun’21 are:
- DCE iron ore futures Sep’21 contract closed at RMB 1,194/t ($187) (+RMB 25.5)
- SGX iron ore futures July’21 contract closed at $201/t (+2. 9)
- SHFE rebar futures Oct’21 contract closed at RMB 5,148/t ($805) (+RMB 146)
- SHFE HRC futures Oct’21 contract closed at RMB 5,490/t ($859) (+RMB 185)
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