China AM: Futures edge up as govt shows resolve for emissions cuts

China’s ferrous futures largely moved upwards during morning trading on Wednesday October 11, with reports of more production restrictions and the government’s strong resolve in their implementation.

Futures closing prices – morning session Shanghai Futures Exchange January rebar: 3,594 yuan ($546), up 13 yuan January hot rolled coil: 3,869 yuan, up 4 yuan Dalian Commodity Exchange January iron ore: 441 yuan, down 1 yuan January coking coal: 1,119 yuan, up 24.50 yuan January coke: 1,833 yuan, up 10 yuan Raw materials The following were obtained from market sources: Rio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines, laycan October 27-November 5 (closes at 3pm Beijing time). Vale, tender, 112,248 tonnes of 61.2% Fe Standard Sinter Feed Guaiba, bill of lading September 19 (miner is inviting bids at fixed prices or against Metal Bulletin’s 62% Fe index and Fe value in use; closes at...

Published

July Zhang

October 11, 2017

08:19 GMT

Shanghai