Due to China's stable economic data, iron ore futures continue to decline.
The most traded May iron ore contract on the Dalian Commodity Exchange (DCE) was down 0.75% in daytime trading at 926 yuan ($128.67) per tonne. Additionally, coking coal decreased by 0.22%, while coke increased by 0.48%.
The February iron ore benchmark on the Singapore Exchange fell 2.6% to $125.95 per metric tonne.
While rebar SRBcv1 decreased by 0.65%, hot rolled coil SHHCcv1 decreased by 0.5% and wire rod SWRcv1 decreased by 0.12% on the Shanghai Futures Exchange; stainless steel SHSScv1 rose 1.41%.
Market analysts state that a recovery in iron ore does not seem possible due to the decline in steel prices and damage to factories.
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