News News

China's iron ore hits three-week low, rebar up for fourth day

Date: 2019-09-04
Views: 10

Chinese iron ore futures hit their lowest in more than three weeks on Tuesday following news that Brazil’s average daily exports of the steel-making raw material this month outpaced shipments a year earlier, despite last month’s mine disaster.


The Chinese ferrous market, however, ended a volatile session with construction steel rebar extending its rise into a fourth session, as optimism over a possible trade deal between Beijing and Washington waned.


The most-traded iron ore contract for May delivery on the Dalian Commodity Exchange ended down 3.2 percent at 593.5 yuan ($88.60) a ton, having fallen as much as 4.4 percent earlier in the day.


The most-active construction steel rebar contract on the Shanghai Futures Exchange see-sawed between losses and gains, before closing 0.3 percent higher at 3,736 yuan a ton, the highest in more than two weeks.


Although U.S. President Donald Trump said on Monday he may soon sign a deal with Chinese President Xi Jinping to end a trade war, China will not likely agree to the more important U.S. demands such as a fundamental restructuring of its economy, said analyst Edward Meir of INTL FCStone Financial.


“The overall uncertainty surrounding the global trade picture that has been with us for much of the last year will likely not lift anytime soon,” Meir said.


Related content
  • Hotspot
  • Newest
  • media
To develop the team cohesion and take a break from busy work, Beijing Kewei Jianye Steel Co.,Ltd management team organized the activity- Hiking In Tian Xuan Forest Park during 29th August and 30th Aug...
2020 - 09 - 10
Beijing Kewei Jianye Steel Co.,Ltd Organized week trip to Qinghai Province to Encourage the Staffs who have significant Contribution in 2019. On the Early June, the excellent annual Staffs and Company...
2020 - 06 - 16
Beijing Kewei Jianye Steel Co.,LTD(The Company) invited Company legal Adviser Mr Zhou to train the company staffs t...
2020 - 05 - 29
Due to the Corona Virus has been well controlled in Mainland China, thus to establish a better working environment, The Company organize a spring outing to the Tongzhou Grand Canal Forest...
2020 - 05 - 19
On the 9th of May 2020, Beijing Kewei Jianye Steel Co., Ltd hold a conference about Black Swan Theory. Sp...
2020 - 05 - 11
0086-10-59574230
(24 hours national service hotline)
Copyright ©2010 - 2018 BeijingKewei Jianye Steel CO., Ltd.
Rhinoceros cloud provides enterprise cloud services
犀牛云提供云计算服务
Follow Us:
X

Whatsapp(Tony)

+8618678022600

电话(Leo)

+8613370170607

1

QQ设置

  • Anita
3

SKYPE 设置

4

阿里旺旺设置

6

Leo

手机关注微信

展开