Iron ore futures in China continue to increase following strong steel production globally.
As of Wednesday, iron ore prices have increased consecutively. DCIOcv1, the most traded January iron ore contract on the Dalian Commodity Exchange (DCE), increased by 1.08% to USD 109.19. While iron ore increased, coke DJMcv1 and cokeDCJcv1 decreased by 1.26% and 0.78%, respectively.
On the Singapore Exchange, the iron ore SZZFQ4 index for December increased by 1.11% to 103.7 USD.
Prices were generally lower on the Shanghai Futures Exchange. Rebar SRBcv1 decreased by 0.3%, hot rolled coil SHHCcv1 by 0.06%, stainless steel SHSScv1 by 0.7% and wire rod SWRcv1 by 0.4%.
Looking at the data released by the China Iron and Steel Association, it was seen that steel production in the country was above average and production in the last three weeks increased by 9.5% compared to the same period of the previous three years.
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