China's traders showed a decline due to weak steel margins and rising inventories. The most-traded May iron ore contract on China's Dalian Commodity Exchange fell 0.52%, reversing its course at the beginning of the session, at 951.5 yuan ($132.20) per metric ton. Additionally, coking coal DJMcv1 fell 4.6% and coke DCJcv1 fell 3.2%.
Some steel mills in northern China have reduced their coke supply prices by 100 yuan to 110 yuan per ton.
On the Singapore Exchange, the March iron ore SZZFH4 reference indicator decreased by 2.91% and fell to $ 127.45 per ton, due to the decrease in views on an early interest rate cut in the USA.
Steel benchmarks on the Shanghai Futures Exchange were mixed. While rebar SRBcv1 decreased by 1.07% and hot rolled coil SHHCcv1 decreased by 0.88%; wire rod SWRcv1 increased by 0.52% and stainless steel SHSScv1 increased by 0.55%.
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