On Wednesday, gains continued in iron ore futures. In China, prices rose more than 5%.
The most-traded January iron ore on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trade 3.7% higher at 817 yuan ($112.13) per metric ton, stretching its gains in a 10-session rally to about 14%.
Other products continued to rise on the Dalian Commodity Exchange. Coking coal DJMcv1 was up 4.1% and coke DCJcv1 was up 2.9%.
Looking at the Singapore Exchange, iron ore's benchmark September contract SZZFU3 rose 2.1 percent to $112.95 per tonne as of 07:12 GMT after hitting $113.90, its highest since July 26.
Looking at the situation in Shanghai; rebar SRBcv1 increased by 1%, hot rolled coil SHHCcv1 increased by 1.2% and wire rod SWRcv1 increased by 2.5%; stainless steel SHSScv1 fell 0.2%.
In the January-July 2023 period, China produced 626.51 million tons of crude steel, up 2.5% compared to the same period of 2022.