China: Iron ore futures rebound on improved steel margins

Dalian iron ore futures on 26 Jul’21 picked up by 1.1% d-o-d with improvement in Chinese steel margins. Steel futures remained supported by positive sentiments, moving up by 0.2% as against the last trading session on 23 Jul. Closing prices of the most-traded ferrous futures contracts are:

• DCE iron ore futures Sept contract closed at RMB 1,136.5/t ($175) (+12.5)
• SGX iron ore futures Aug contract closed at $198.15/t (+0.65)
• SHFE rebar futures Oct contract closed at RMB 5,687/t ($877) (+RMB 16)
• SHFE HRC futures Oct contract closed at RMB 5,990/t ($924) (+RMB 22)