Iron ore and steel futures in China today saw slight recovery, as the most-traded contract prices moved up by 3% and 1.6% respectively. However, the market is still bearish due to weak demand outlook amidst steel output curbs. The closing prices of the most-traded iron ore and steel futures contracts:
- DCE iron ore futures Jan’22 contract closed at RMB 777.5/t ($120) (+RMB 15)
- SGX iron ore futures Sept contract closed at $138.45/t (-RMB 7.95)
- SHFE rebar futures Jan’22 contract closed at RMB 5,100/t ($785) (+RMB 83)
- SHFE HRC futures Jan’22 contract closed at RMB 5,458/t ($840) (+RMB 69)
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