Intel Details

China: Dull demand drags iron ore futures to three-week low

22 Jul 2021, 16:01 IST
Steel Mint Intel

Dalian iron ore futures fell by 3.1% on 22 Jul'21 and were on course to hit a three week-low on persistent dull demand due to production cuts in China. As per sources, the Chinese government is keen to control steel production in 2021 which may dent demand for the steelmaking raw material. On the other hand, SHFE steel futures moved up by up to 1.5%. Closing prices of the most-traded contracts:

  • DCE iron ore futures Sept contract closed at RMB 1,138/t ($176) (-RMB 36)
  • SGX iron ore futures Aug contract closed at $193.9/t (-8.6)
  • SHFE rebar futures Oct contract closed at RMB 5,648/t ($873) (+RMB 87)
  • SHFE HRC futures Oct contract closed at RMB 5,947/t ($920) (+RMB 29)

22 Jul 2021, 16:01 IST
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