Iron ore futures on the Dalian Commodity Exchange (DCE) picked up 3% in today’s trading session. Cautious sentiments seem to have faded in the futures market. A rebound in spot iron ore prices on 21 Jun’21 on supply concerns supported DCE futures. On the other hand, volatility persisted in the steel futures market. HRC futures remained largely stable while rebar futures rose by 1%. Closing prices of the most-traded iron ore and steel futures on 23 Jun are:
- DCE iron ore futures Sept contract closed at RMB 1,173/t ($181) (+RMB 34)
- SGX iron ore futures Jul contract closed at $208.5/t (+4)
- SHFE rebar futures Oct contract closed at RMB 4,934 ($762) (+49)
- SHFE HRC futures Oct contract closed at RMB 5,153/t ($796) (0)
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