Due to the upcoming public holiday in China, there was a noticeable increase in demand and prices rose. On the Dalian Commodity Exchange, the most traded iron ore DCIOcv1 rose 3.1% to USD 106.15 per metric tonne in September. Coking coal DJMcv1 fell 0.9% to USD 199, while coke DCJcv1 rose 0.4% to USD 271.
On the Singapore Exchange, the benchmark benchmark for May iron ore SZZFK4 rose 0.4% to USD 101.70 per metric tonne.
On the Shanghai Futures Exchange, steel benchmarks were also on the rise;
Rebar SRBcv1 USD 478 up 1.7 per cent
Hot rolled coil SHHCcv1 509 USD 2.6% increase
Wire rod SWRcv1 518 USD 2.2% increase
Stainless steel SHSScv1 518 USD 1.3% increase
China's buyers noted that the market will be closed on Thursday and Friday due to the "Tomb Sweeping Day", which is the country's official holiday, so all purchases are stuck in the first days of the week.
They also noted that prices fluctuated in March, while they are currently satisfied with the rising prices in the market.
In addition, demand for hot rolled coil is known to be higher than rebar demand. The reason for this is that the manufacturing sector in China is progressing faster than the construction sector.
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