Iron ore prices in China declined due to risk aversion ahead of the public holiday. On the other hand, it also made monthly gains thanks to the slight recovery in the property sector.
The most-traded iron ore on the Dalian Commodity Exchange (DCE) fell 0.1% to 874 yuan (USD 120.65) per metric tonne in September. Despite this, it rose 16.6% this month, reaching its peak since June 2023. Coking coal DJMcv1 also fell 0.2% to USD 249 per tonne, while coke DCJcv1 rose 0.2% to USD 325.
On the Singapore Exchange, the May iron ore benchmark fell 0.6% to USD 116.50 per tonne.
Rebar SRBcv1 on the Shanghai Futures Exchange was down 0.4% to USD 504 per tonne, hot rolled coil SHHCcv1 was down 0.3% to USD 525, wire rod SWRcv1 was down 5.7% to USD 483 and stainless steel SHSScv1 was down 0.1% to USD 1972.
Markets in China will be closed between 1-3 May due to public holidays.
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