segunda-feira, 16 de abril, 2018

Future of steel and iron ore in China fall despite stocks retreat

The future of iron ore in China fell in line with the movement of the steel rebar futures on Monday, despite the reduction in stocks, due to concerns of the market with the demand. The contract most active iron ore for delivery in September in Dalian stock exchange closed in fall of 2,6%, to 438.5 Yuan (69.77 dollars) a tonne. During the session, the contract touched 435.5 Yuan, the lowest value since June 26. Steel rebar futures on the Shanghai Stock Exchange fell 1,9%, for 3,357 Yuan per tonne. Rebar stocks continued to decline last week, falling to 8,680,000 tons 521,600 tons. Meanwhile, the stock of iron ore in Chinese ports decreased by 731,600 tons, to 160.4 million tonnes, compared to a week ago, according to data from Consultancy Mysteel. "The process of reducing the stockpile of steel products is taking place smoothly, which helps to lift the market sentiment. However, the Outlook of weak demand in domestic and foreign markets increase the pressure on prices, "said Zhu Hao, an analyst at Orient Futures.
Reuters - 16/04/2018 Noticia traduzida automaticamente
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