On Thursday, December 1, coke prices (main contract J1701) at Dalian Commodity Exchange (DCE) opened the day at RMB 2,070/mt and closed at RMB 2,092/mt, which was up 1.23 percent compared to the previous day’s settlement price of RMB 2,067/mt. Also at DCE, iron ore futures prices (main contract I1701) opened at RMB 601/mt and closed at RMB 646/mt, up 5.64 percent compared to the previous day’s settlement price of RMB 612/mt.
Meanwhile, on December 1, rebar futures prices (main contract RB1701) at Shanghai Futures Exchange (SHFE) opened at RMB 2,912/mt and closed at RMB 3,103/mt, which was up 4.87 percent from the settlement price of RMB 2,959/mt on November 30. Hot rolled coil (HRC) futures prices (main contract HC1701) at SHFE opened the day at RMB 3,306/mt and closed at RMB 3,578/mt, rising by 6.96 percent compared to the previous day’s settlement price of RMB 3,358/mt.
Coking coal prices (main contract JM1701) at Dalian Commodity Exchange (DCE) opened on December 1 at RMB 1,515/mt and closed at RMB 1,524/mt, up 1.80 percent from the previous day’s settlement price of RMB 1,431/mt.
Ferrous metal futures prices in China rebounded on December 1 after decreases recorded on the previous two days, as many Chinese steelmakers increased their offer prices for December shipment, exerting a positive impact on futures prices. Meanwhile, inventories of the main finished steel products in the Chinese domestic market are on the short side, providing support for futures prices.