{"id":555,"date":"2026-05-11T08:50:06","date_gmt":"2026-05-11T08:50:06","guid":{"rendered":"https:\/\/dailypakistannews.com\/?p=555"},"modified":"2026-05-11T08:50:06","modified_gmt":"2026-05-11T08:50:06","slug":"iron-ore-rallies-for-sixth-day-on-upbeat-chinese-data","status":"publish","type":"post","link":"https:\/\/dailypakistannews.com\/?p=555","title":{"rendered":"Iron ore rallies for sixth day on upbeat Chinese data"},"content":{"rendered":"

SINGAPORE: Iron ore futures gained for the sixth session on Monday on a raft of upbeat data from top consumer China, as lower steel exports are expected to help rebalance steel prices and steel mill margins, while lower iron ore shipments and inventories year-on-year helped support prices.<\/strong><\/p>\n

The most-traded September iron ore contract on China\u2019s Dalian Commodity Exchange (DCE) traded 0.73% higher at 822.5 yuan ($121.04) a metric ton.<\/p>\n

The benchmark June iron ore on the Singapore Exchange was 0.88% higher at $111.4 a ton as of 0725 GMT.<\/p>\n

China\u2019s steel exports fell 9% in April from the same month last year, customs data showed on Saturday, as shipments that have spurred complaints from trading partners tracked their lowest year since 2023.<\/p>\n

China shipped 9.5 million metric tons of steel, up 4% from March but down from last year\u2019s record pace. Lower steel exports help push up steel prices and steel mill margins, which have been largely suppressed by China\u2019s overproduction.<\/p>\n

Dalian iron ore gains as steel prices rise<\/strong><\/a><\/p>\n

Iron ore imports in April fell 0.8% from the month before, as shrinking steel margins curbed buying appetite for the key steelmaking ingredient. The world\u2019s largest iron ore consumer brought in 103.9 million tons last month, down from 104.74 million tons in March and 103.14 million tons in the same month in 2025.<\/p>\n

In April, the average daily hot metal output, a gauge of iron ore demand, climbed 4.6% from the prior month, according to a Reuters calculation based on data from consultancy Mysteel.<\/p>\n

Portside inventory slid by 1.5% month-on-month to 162.65 million tons, the lowest since late February, data from consultancy Steelhome showed. Iron ore inventory at major Chinese ports dipped by 0.79% week-on-week, according to data from consultancy Steelhome on Friday.<\/p>\n

Other steelmaking ingredients on the DCE lifted, with coking coal and coke up 0.85% and 1.25%, respectively.<\/p>\n

Steel benchmarks on the Shanghai Futures Exchange mostly advanced. Rebar lifted 0.34%, hot-rolled coil hardened 0.34% and wire rod firmed 1.56%. Meanwhile, stainless steel fell 0.56%.<\/p>\n","protected":false},"excerpt":{"rendered":"

SINGAPORE: Iron ore futures gained for the sixth session on Monday on a raft of upbeat data from top consumer China, as lower steel exports are expected to help rebalance steel prices and steel mill margins, while lower iron ore shipments and inventories year-on-year helped support prices. The most-traded September iron ore contract on China\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news"],"_links":{"self":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=555"}],"version-history":[{"count":0,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/media\/556"}],"wp:attachment":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}