- Iron ore spot markets were quiet on Thursday with minimum movements seen across the major grades.
- Dalian iron ore futures fell by 1% while steel futures also softened.
- Chinese steel and bulk commodity futures reversed earlier losses in overnight trade on Thursday.
Limited movement was seen across iron ore spot markets on Thursday.
According to Metal Bulletin, the price for benchmark 62% fines slipped less than 0.1% to $93.50 a tonne.
65% fines also fell less than 0.1%, settling at $107.40 a tonne. 58% fines managed to buck the overall trend, lifting 0.2% to $79.86 a tonne.
The mixed and modest price movements in physical markets were mirrored by Chinese steel and bulk commodity futures during the session.
Rebar and hot-rolled coil futures slipped to 3,712 and 3,648 yuan, down 0.6% and 0.8% respectively from Wednesday’s day session close.
Bulk commodity contracts traded in Dalian also fell, led by iron ore which slumped 1% to 616 yuan. Coking coal and coke futures also eased lower, finishing at 1,345 and 2,036 yuan respectively.
Pointing to the likelihood of modest strength reemerging in physical markets on Friday, all five contracts rose in overnight trade on Thursday.
SHFE Hot Rolled Coil ¥3,675 , -0.16%
SHFE Rebar ¥3,730 , -0.37%
DCE Iron Ore ¥623.50 , 0.48%
DCE Coking Coal ¥1,357.50 , 0.70%
DCE Coke ¥2,041.00 , -0.34%
Trade in Chinese commodity futures will resume at 11am AEST.
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