On Wednesday, November 16, coke prices (main contract J1701) at Dalian Commodity Exchange (DCE) indicated a significant decline, opening the day at RMB 2,005/mt and closing at RMB 2,059/mt, which was down 0,94 percent compared to the previous day’s settlement price of RMB 2,079/mt. Also at DCE, iron ore futures prices (main contract I1701) opened at RMB 576/mt and closed at RMB 578/mt, down 6.32 percent compared to the previous day’s settlement price of RMB 617/mt.
Meanwhile, on November 16, rebar futures prices (main contract RB1701) at Shanghai Futures Exchange (SHFE) opened at RMB 2,801/mt and closed at RMB 2,816/mt, declining by 3.89 percent from the settlement price of RMB 2,930/mt on November 15. Hot rolled coil (HRC) futures prices (main contract HC1701) at SHFE opened the day at RMB 3,200/mt and closed at RMB 3,205/mt, down 3.58 percent from the previous day’s settlement price of RMB 3,324/mt.
Coking coal prices (main contract JM1701) at Dalian Commodity Exchange (DCE) opened on November 16 at RMB 1,522/mt and closed at RMB 1,569/mt, up 0.35 percent from the previous day’s settlement price of RMB 1,564/mt. Thermal coal prices (main contract ZC701) at Zhengzhou Commodity Exchange (ZCE) opened at RMB 630/mt and closed at RMB 634.2/mt, down 0.94 percent from the settlement price of RMB 640.2/mt on November 15.
Ferrous metal futures prices in China indicated further downward movements on November 16, reflecting a correction of previous overheating caused by speculation. However, upward movements were observed towards the end of the trading session, resulting in some improvement in sentiment among market players.