On Tuesday, November 29, coke prices (main contract J1701) at Dalian Commodity Exchange (DCE) opened the day at RMB 2,190/mt and closed at RMB 2,084/mt, which was down 4.64 percent compared to the previous day’s settlement price of RMB 2,186/mt. Also at DCE, iron ore futures prices (main contract I1701) opened at RMB 657/mt and closed at RMB 626/mt, down 3.47 percent compared to the previous day’s settlement price of RMB 649/mt.
Meanwhile, on November 29, rebar futures prices (main contract RB1701) at Shanghai Futures Exchange (SHFE) opened at RMB 3,180/mt and closed at RMB 2,989/mt, decreasing by 5.47 percent from the settlement price of RMB 3,162/mt on November 28. Hot rolled coil (HRC) futures prices (main contract HC1701) at SHFE opened the day at RMB 3,597/mt and closed at RMB 3,413/mt, declining by 4.29 percent compared to the previous day’s settlement price of RMB 3,566/mt.
Coking coal prices (main contract JM1701) at Dalian Commodity Exchange (DCE) opened on November 29 at RMB 1,582/mt and closed at RMB 1,501/mt, down 5.51 percent from the previous day’s settlement price of RMB 1,589/mt.
Following new regulations at DCE and SHFE regarding increased trade security deposits and reduced daily transaction volumes, futures prices at the exchanges have indicated some downward corrections. Speculative activity has cooled down to a certain extent, exerting negative pressure on futures prices in the market.
Note: All comparisons are between the closing price on the date in question and the settlement price of the previous day.