14,077.67 TRY BIST 100 BIST 100
7.01 CNY CNY CNY
53.79 EUR EUR EUR
47.25 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
42.46 TRY Interest Interest
100.13 USD Fossil Oil Fossil Oil
6.34 USD Copper Copper
87.74 USD Silver Silver
97.96 USD Iron Ore Iron Ore
380.00 USD Shipbreaking Scrap Shipbreaking Scrap
6,089.00 TRY Gold (gr) Gold (gr)
97.00 USD Iron Ore 61% Fe Iron Ore 61% Fe

Chinese ore prices under pressure

Steel futures in China hit a one-week high after November's faster-than-expected industrial production in the country, but the continued decline in steel production put pressure on iron ore prices.

Chinese ore prices under pressure

On the Shanghai Futures Exchange, rebar delivery for May delivery rose 1.7% to 4,468 yuan/t ($702), its highest level since December 8.

Hot rolled coil rose 2.4% to 4,650 yuan/t, while stainless steel rose 1.4%.

In China, factory output increased by 3.8 percent year on year in November, while steel production fell in the sixth month.

May iron ore delivery on the Dalian Commodity Exchange fell 2.6 percent, while iron ore for January delivery on the Singapore Exchange fell 0.1 percent at $113/ton at 06.38, after rising 1.6 percent in the early hours.

Analysts stated that the medium-term iron ore demand outlook remains at the upper end, with ING expecting iron ore price to decline to $100/tonne in 2022.

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