Iron ore futures in China closed last week with a bullish momentum amid expectations of additional stimulus from the Chinese government. DCIOcv1, the most traded January iron ore contract on the Dalian Commodity Exchange (DCE), increased by 2.81% to 108.04 USD. In addition, coke DJMcv1 and coke DCJcv1 increased by 2.15% and 2.45%, respectively.
On the Singapore Exchange, November iron ore SZZFQ4 increased by 1.71% and was recorded at 101.5 USD per tonne.
Prices on the Shanghai Futures Exchange showed a general upward trend. Rebar SRBcv1 increased by 1.93%, wire rod SWRcv1 by 1.8%, hot rolled coil SHHCcv1 by 2.16% and stainless steel SHSScv1 by 1.9%.
In their 2025 forecasts, market analysts predict that demand in the markets, especially in China, will probably remain flat.
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