Intel Details

China: Ferrous futures rangebound as govt steps in to curb speculation

Fines/Lumps
22 Jun 2021, 17:08 IST
Steel Mint Intel

Iron ore and steel futures in China remained rangebound in today's trading session following the government's oversight of the commodities market and crackdown on speculation. The state planner and market regulator said they would closely monitor prices and investigate malicious speculation. Government intervention has dented sentiments in the ferrous futures market. Closing prices of the most-traded contracts of iron ore and steel futures on 22 Jun'21 are:

  • DCE iron ore futures Sept contract closed at RMB 1,139/t ($176) (+ RMB 18)
  • SGX iron ore futures July contract closed at $205/t (+9)
  • SHFE rebar futures Oct contract closed at RMB 4,885/t ($754) (-4)
  • SHFE HRC futures Oct contract closed at RMB 5,153/t ($796) (-RMB 17)

22 Jun 2021, 17:08 IST
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