China AM: Iron ore futures rise to daily limit on Vale announcement

China’s steel futures surged during morning trading on Wednesday January 30, while the iron ore contract hit its upper limit of 6% compared with the previous day’s settlement price on news that Vale’s output of the steelmaking raw material could fall by a tenth following a tailings dam breach last week.

Futures closing prices – morning session Shanghai Futures Exchange May rebar: 3,754 yuan ($557) per tonne, up 51 per tonne May hot-rolled coil: 3,648 yuan per tonne, up 43 yuan per tonne Dalian Commodity Exchange May iron ore: 589 yuan per tonne, up 1.50 yuan per tonne May coking coal: 1,222 yuan per tonne, up 3.50 yuan per tonne May coke: 2,061 yuan per tonne, up 10.50 yuan per tonne Raw materials Fastmarkets’ MB 62% Fe Iron Ore Index was at $78.69 per tonne cfr...

Published

Paul Lim

January 30, 2019

06:21 GMT

Singapore