Iron ore futures on the Dalian Commodity Exchange (DCE) declined by 6% to a six-month low on 19 Aug’21 due to increasing supply and a weak demand outlook in China. Steel futures on the Shanghai Futures Exchange (SHFE) dropped by 2.5% on expectations of low demand from the construction segment on account of China’s tightening credit policy for the property sector. Closing prices of the most-traded iron ore and steel futures contracts:
- DCE iron ore futures Jan’22 contract closed at RMB 762.5/t ($117) (-RMB 50.5)
- SGX iron ore futures Sept contract closed at $134.35/t (-RMB13.4)
- SHFE rebar futures Jan’22 contract closed at RMB 5,017/t ($773) (-RMB 127)
- SHFE HRC futures Jan’22 contract closed at RMB 5,389/t ($830) (-RMB 93)
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