Iron ore futures on the Dalian Commodity Exchange (DCE) dropped for the second straight session, as news of production cuts in China sparked demand concerns. However, rebar and hot-rolled coil futures on the Shanghai Futures Exchange (SHFE) gained 0.7%. Closing prices of the most-traded ferrous futures contracts on 09 Jul’21:
- DCE iron ore futures Sept contract closed at RMB 1,163.5/t ($179) (-RMB 24)
- SGX iron ore futures Aug contract closed at $204.85/t (-0.05)
- SHFE rebar futures Oct contract closed at RMB 5,428/t ($837) (-RMB 35)
- SHFE HRC futures Oct contract closed at RMB 5,795/t ($894) (-RMB 45)
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