China's real estate crisis limits iron ore boom

Although iron ore futures in China rose on Wednesday, they continue to be affected by the negativities in the real estate sector.

DCIOcv1, the most traded iron ore on China's Dalian Commodity Exchange in January, closed 0.5% higher in daytime trading at 873.50 yuan ($119.69) per metric ton.

Additionally, coking coal DJMcv1 increased by 1.3% and coke DCJcv1 increased by 0.9%.

Also on the Singapore Exchange, the October iron ore SZZFV3 indicator rose 1.4% to $121.85 per tonne by 07:05 GMT, after two consecutive sessions of losses.

On the Shanghai Futures Exchange, rebar SRBcv1 fell 0.3%, hot rolled coil SHHCcv1 fell 0.3% and wire rod SWRcv1 fell 2.1%. Stainless steel SHSScv1 gained 0.3%.