China AM: Steel futures fall on lower PMI

China’s steel futures tumbled again during morning trading on Friday August 31 after experiencing losses a day earlier, following the release of data showing a drop in the country’s steel purchasing managers’ index (PMI)

Futures closing prices – morning session
Shanghai Futures Exchange
January rebar: 4,083 yuan ($597) per tonne, down 33 yuan per tonne
January hot rolled coil: 4,069 yuan per tonne, down 69 yuan per tonne
Dalian Commodity Exchange
January iron ore: 488 yuan per tonne, down 0.50 yuan per tonne
January coking coal: 1,258.50 yuan per tonne, up 8 yuan per tonne
January coke: 2,438 yuan per tonne, down 4.50 yuan per tonne
Raw materials

China’s largest ferrous scrap consumer Shagang has lowered its purchase prices for the steelmaking raw...


Sophie Zhao

August 31, 2018

06:03 GMT