China’s iron futures rose nearly 6% on Monday (Dec 13) after two sessions of decline, as the government pledged to stabilize the economy next year.

China is committed to continuing prudent monetary policy and proactive fiscal policy, and prioritizes economic stability into 2022, according to the annual Central Economic Work Conference last week.

“Iron ore supply is not expected to see a big change next year, with shipments from mainstream miners remaining steady while output from,” said Cheng Peng, analyst at SinoSteel Futures. domestic mines will be little changed.”
Iron ore futures on the Dalian Commodity Exchange for May delivery closed 5% higher at 669 yuan a tonne after rising 5.9% to 674 yuan ($105.93) a tonne.
Spot iron ore prices, with 62% iron content, fell $1 to $108 a tonne on Friday, according to consulting firm SteelHome.
Dalian coking coal ended up 1.7 percent higher at CNY 2,035 ($319.84) a tonne, recovering from a 5.9% drop earlier in the session.
Coke price on Dalian bourse increased 1.9% to 2,972 CNY/ton.
Rebar used in construction on the Shanghai Futures Exchange rose 2.5% to CNY 4,415/ton and hot-rolled coil used in automobiles and home appliances increased 2.2% to CNY4,535/mt. .

Shanghai stainless steel futures SHScv1 for January delivery rose 1.8% to 16,160 CNY/ton.

T&G International Joint Stock Company

Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi

Hotline: 0345786803

Email: hrm@tginterjsc.com

Website: http://tginternationaljsc.com