India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
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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