Iron ore futures in China showed a recovery due to the expectation of heavy purchasing for winter restocking.
Iron ore, the most traded commodity in May on China's Dalian Commodity Exchange (DCE), rose 1.46% in daytime trading and finished at 939 yuan ($131.58) per metric ton. Additionally, coking coal decreased by 1.09% and coke by 0.46%.
On the Singapore Exchange, January benchmark iron ore SZZFF4 rose 1.27% to $134 per tonne.
Rebar SRBcv1 on the Shanghai Futures Exchange increased by 0.26%, hot rolled coil SHHCcv1 increased by 0.69%, stainless steel SHSScv1 increased by 1.2%.
According to market experts, some steel mills have announced winter restocking policies with higher than expected prices, making it difficult for traders to buy.
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