Chinese steel futures today continued to set new records as the prices of rebar and HRC futures rose by 1.4% and 2.1% respectively on production curb worries. The state planner has urged local government to complete self-inspection for their steel projects and full-year output cut plan by mid-May, before it conducts on-site checks in June and July.
The closing prices of the most-traded iron ore and steel futures contracts on 12 May are as follows:
- DCE iron ore futures Sep contract closed at RMB 1,337/t (+30.5)
- SGX iron ore futures June contract closed at $225.55 (+3.6)
- SHFE rebar futures Oct contract closed at RMB 6,171/t (+85)
- SHFE HRC futures Oct contract closed at RMB 6,683/t (+143)
Leave a Reply