Iron ore futures have started to decline due to declining steel production in China and the growing real estate crisis.
January's most-traded iron ore on the Dalian Commodity Exchange (DCE) closed daytime trading up 0.4% at 861 yuan ($117.76) per metric ton. Additionally, coking coal DJMcv1 decreased by 3% and coke DCJcv1 decreased by 3.87%.
The November iron ore benchmark on the Singapore Exchange was down 1.4% at $115.85 per tonne by 07:18 GMT.
Losses continued on the Shanghai Futures Exchange. Rebar SRBcv1 decreased by 1.01%, hot rolled coil SHHCcv1 decreased by 0.74%, wire rod SWRcv1 decreased by 1.65% and stainless steel SHSScv1 decreased by 0.44%.
In addition, China's crude steel production will increase by 5% in September 2023 compared to the previous month; It decreased by 5.6% compared to 2022.
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