dalian iron ore

©2020 Bloomberg L.P. Pot Shots. Vale cuts supply forecasts, Aussie-China tussle mostly ignored. Vale cuts supply forecasts, Aussie-China tussle mostly ignored. Meanwhile, November shipments from Brazil to the rest of the world fell to a six-month low. Iron ore on China’s Dalian Commodity Exchange rose for a fourth consecutive session to close 2.1% higher at 794.50 yuan ($118.53) a tonne. 3:43. Iron ore on China’s Dalian Commodity Exchange ended daytime trading up 1.1% at 911.50 yuan ($138.36) a tonne, after hitting a high of 919 yuan earlier in the session. When economies are growing, the need for steel in construction increases which drives the price up. Last month, China slapped 200% tariffs on Australian wine — for which China is the largest export market — on top of new sanctions on Australian beef, coal, copper, sugar, seafood and timber. Iron ore futures in Dalian jumped 5.7%, while hot-rolled coil and rebar in Shanghai also advanced. Dalian iron-ore futures soar nearly 4.0% to 8.0% for most contracts. All Rights Reserved. © 2020 CNBC LLC. The most-traded iron ore for January delivery on the Dalian Commodity Exchange gained as much as 2.8% to 928 yuan ($141.45) a tonne in early trade. The sanctions followed Canberra’s ban on Chinese telecom giant Huawei and Australia’s condemnation of Beijing’s treatment of Hong Kong and Xinjiang. What’s new: China’s benchmark iron ore futures surged Thursday to record highs, boosted by steelmakers’ seasonal demand ahead of the holiday season. DCE Iron Ore Prices The All Futures page lists all open contracts for the commodity you've selected. Overnight, the Jan Dalian contract jumped to a fresh high, up 2.1% while the Dec SGX contract hit a fresh contract high of $124.06. A Division of NBCUniversal. In tandem, seaborne supply from iron ore powerhouses Australia and Brazil has also diminished. To read the full story in Chinese, click here. "We are going to see lower production from Brazil than people had expected, so that is going to continue to 2021, and we are seeing issues to restart mines in Brazil, for example, and Vale will remain operating at reduced levels in the coming year," he said. its fifth straight weekly gain, boosted by top consumer China’s robust demand for the steelmaking ingredient and supply concerns, while prices in Singapore surged more than 6%. The most actively traded iron ore futures contract on the Dalian Commodity Exchange, for May delivery, soared nearly 7% to 971 yuan ($148) per ton, the highest since the exchange launched iron ore futures in 2013. Iron ore futures on China’s Dalian Commodity Exchange surged by almost 10% on Friday to an all-time high, crossing the 1,000 yuan ($152.95) per ton mark for the first time in history. The contract closed down 0.6% at 894 yuan. It gained 5.3% for the week, its steepest weekly rise since early August. The Dalian Commodity Exchange said it would increase the minimum trading margin requirements for May iron ore futures from 11% to 15% starting Monday, meaning investors shorting iron ore futures have to deposit extra funds by the end of Friday to avoid a forced sale of their positions. Copyright © 2019 Caixin Global Limited. The iron ore contract in Dalian closed 2.4% lower, while hot-rolled coil and rebar declined in Shanghai. The most actively traded contract for China’s benchmark iron ore futures, traded on Dalian Commodity Exchange, surge over 7.0% on early Friday to refresh the record high near $150.00. We want to hear from you. Related: China Trade Bans Spread to Big Australian Lamb Exporters. The most actively traded iron ore futures on the Dalian Commodity Exchange, for May delivery, soared as much as 7.3% to 976 yuan ($149.10) per tonne, before closing up 6.8% at 971 yuan. A freight train carrying iron ore travels along a rail track towards Port Hedland, Australia, on Monday, March 18, 2019. Global economic growth is the primary factor that drives its supply and demand. Iron ore futures on China's Dalian Commodity Exchange surged by almost 10% on Friday to an all-time high, crossing the 1,000 yuan ($152.95) per ton mark for the first time in history. Sign up for free newsletters and get more CNBC delivered to your inbox. Singapore — The Dalian Commodity Exchange has imposed a limit of 15,000 lots per day on trading of its September iron ore futures contract and 10,000 lots per day on its January futures contract -- the exchange's most actively traded iron ore contracts -- with effect from Aug. 5, according to a notice the exchange released on Aug. 4. From Brazil to the rest of the world ’ s largest steelmaker years! 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