Benchmark iron ore futures on the Dalian Commodity Exchange picked up by 1.7% on 26 Aug’21 on hopes of demand recovery in China. Iron ore futures on the Singapore Exchange rose by 3% d-o-d. On the other hand, steel futures on the Shanghai Futures Exchange slumped by as much as 3% on bearish steel sentiments. Closing prices of the most-traded iron ore and steel futures contracts:
- DCE iron ore futures Jan’22 contract closed at RMB 816/t ($126) (+RMB 13.5)
- SGX iron ore futures Sept contract closed at $150.2/t (+4.35)
- SHFE rebar futures Jan’22 contract closed at RMB 5,108/t ($788) (-RMB 128)
- SHFE HRC futures Jan’22 contract closed at RMB 5,402/t ($833) (-RMB 167)
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