Dalian iron ore futures also gained positive momentum in China as steel prices increased. Although prices increased briefly, it was noted that there was no improvement in demand. On the Dalian Commodity Exchange (DCE), the most traded January iron ore contract DCIOcv1 increased by 1,21% to trade at USD 99,45. Moreover, coke DJMcv1 decreased by 0,3% while cokeDCJcv1 increased by 2,42%.
On the Singapore Exchange, the iron ore SZZFQ4 index for September decreased by 1,11% to USD 93,95
Prices were generally higher on the Shanghai Futures Exchange. Rebar SRBcv1 increased by 1,93%, hot rolled coil SHHCcv1 by 1,97% and wire rod SWRcv1 by 1,21%, while stainless steel SHSScv1 decreased by 0,4%
SteelRadar analysts expect that the price recovery in ore will not be permanent as demand is still not at the expected levels.
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