Iron ore futures in China rose 2.1% and steel futures by 1.7% in today’s session. Raw material prices in the domestic market edged higher, buoyed by the country’s bureau of statistics data showing a record monthly output of 99.45 mn t of crude steel in May’21. Closing prices of the most-traded iron ore and steel futures contracts on 17 Jun are:
- DCE iron ore futures contract for Sept delivery closed at RMB 1,223.5/t ($190) (+ RMB 26)
- SGX iron ore futures Jul contract closed at $210.65/t (+4.2)
- SHFE rebar futures Oct contract closed at RMB 5,101/t ($794) (+ RMB 87)
- SHFE HRC futures Oct contract closed at RMB 5,371/t ($836) (+RMB 91)
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