Dalian iron ore futures rose by 3% on 13 Jul’21, as increasing supply worries overshadowed a weak demand outlook. Market participants expect that the growth of China’s steel demand in the second half will be slower than the first half of CY’21, which may also slow down steel mills’ iron ore purchases. Closing prices of the most-traded iron ore and steel futures contracts:
- DCE iron ore futures Sept contract closed at RMB 1,225/t ($189) (+RMB 36.5)
- SGX iron ore futures Aug contract closed at $210.25/t (+2.25)
- SHFE rebar futures Oct contract closed at RMB 5,458/t ($844) (+RMB 26)
- SHFE HRC futures Oct contract closed at RMB 5,867/t ($923) (+RMB 39)
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