The January iron ore contract on the Dalian Commodity Exchange rose 3.3% in daytime trading to close at 872 yuan ($119.22) per metric ton. Additionally, coking coal DJMcv1 increased by 5.5% and coke DCJcv1 increased by 4.8%.
On the Singapore Exchange, the November contract for the steelmaking component was up 0.9% at $117.10 a tonne by GMT.
On the Shanghai Futures Exchange, rebar SRBcv1 increased by 2.1%, hot rolled coil SHHCcv1 increased by 1.7%, wire rod SWRcv1 increased by 0.9% and stainless steel SHSScv1 increased by 0.9%.
While prices continue to rise, raw material costs are also rising due to the real estate crisis and weak sales in China. It is thought that factories will be negatively affected by this and may limit their production.
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