Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
Iron ore prices moved higher as strong steel production and rising construction demand supported the market ahead of China’s National Day holidays.
On the Dalian Commodity Exchange, the most-traded January contract rose 0.37% to 808.5 yuan ($113.65) per tonne, while the Singapore benchmark remained steady at $105.7 per tonne. Blast furnace capacity utilization in China reached 90.4%, with daily hot metal output at 2.41 million tonnes.
The uptrend is being driven by active construction activity, restocking ahead of holidays, and a drawdown in inventories. Port stockpiles fell 0.42% week-on-week to 132 million tonnes.
Steel futures also gained in Shanghai, with rebar up 0.85% and hot-rolled coil up 0.54%, signaling stronger downstream demand.
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