China's iron ore futures continue to fall due to lack of new incentives and weak steel market. Iron ore DCIOcv1, the most traded iron ore in May on China's Dalian Commodity Exchange (DCE), fell 3.02% in daytime trading, falling to 962 yuan ($134.11) per tonne, the lowest level since December 25. Additionally, coking coal DJMcv1 decreased by 1.73% and coke DCJcv1 decreased by 1.51%.
Market analysts predict that this decline in Dalian iron ore price will continue.
February benchmark iron ore SZZFG4 on the Singapore Exchange fell 3.02% to $133.6 per metric tonne, falling to its lowest level since December 21, 2023.
On the Shanghai Futures Exchange, rebar SRBcv1 fell 1.45%, hot rolled coil SHHCcv1 fell 1.23% and wire rod SWRcv1 fell 2.71%, while stainless steel SHSScv1 rose 0.26%.
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