China: Iron ore futures jump as production resumes in Tangshan

Iron ore futures on China’s Dalian Commodity Exchange (DCE) jumped 3.6% on 5 Jul’21 on rising demand, as steel mills in Tangshan resumed production after the Chinese Communist Party’s 100th anniversary celebrations recently. Steel futures on the Shanghai Futures Exchange (SHFE) rose by 1.9%, as assessed by SteelMint. Closing prices of the most-traded ferrous futures contracts:

• DCE iron ore futures Sept contract closed at RMB 1,225/t ($190) (+RMB 42.5)
• SGX iron ore futures Aug contract closed at $207.85/t (+4.35)
• SHFE rebar futures Oct contract closed at RMB 5,222/t ($808) (+RMB 98)
• SHFE HRC futures Oct contract closed at RMB 5,494/t ($850) (+RMB 76)