The rise in global steel production on Monday also had a positive impact on iron ore futures. DCIOcv1, the most traded January iron ore contract on the Dalian Commodity Exchange (DCE), increased 0.84% to USD 107.88. While iron ore increased, coke DJMcv1 and cokeDCJcv1 decreased by 2.38% and 1.04%, respectively.
On the Singapore Exchange, the iron ore SZZFQ4 index for December increased by 1.61% to 102.2 USD.
According to sources, global crude steel production increased by 0.4% y/y to 151.2 million tons.
Prices were generally lower on the Shanghai Futures Exchange. Rebar SRBcv1 decreased by 0.2%, hot rolled coil SHHCcv1 by 0.3%, stainless steel SHSScv1 by 0.04%, while wire rod SWRcv1 increased by 0.3%.
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