Iron ore futures on the Dalian Commodity Exchange (DCE) dropped by 7.6% on 6 Sept’21, hitting a seven-month low. Rising port stocks in China due to increased shipments and weak domestic demand resulted in futures prices drifting down. Closing prices of the most-traded ferrous futures contracts:
- DCE iron ore futures Jan’22 contract closed at RMB 723/t ($112) (-RMB 63)
- SGX iron ore futures Oct contract closed at $134/t (-$11.48)
- SHFE rebar futures Jan’22 contract closed at RMB 5,473/t ($848) (+RMB 65)
- SHFE HRC futures Jan’22 contract closed at RMB 5,822/t ($902) (+RMB 38)
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