China: HRC futures slump on dull demand outlook, iron ore stable

HRC futures on the Shanghai Futures Exchange (SHFE) dropped by 2.5% on 23 Sep’21, while re-bar futures dipped 0.9%. Closing prices:

• SHFE HRC futures Jan’22 contract: RMB 5,612/t ($870) (-RMB 149)
• SHFE re-bar futures Jan’22 contract: RMB 5,605/t ($868) (-RMB 51)
• DCE iron ore futures Jan’22 contract: RMB 667/t ($103) (-RMB 1.5)
• SGC iron ore futures Oct contract: $109.10/t (-$1.4)