Iron ore futures opened higher in the DCE with the most active iron ore contract for January delivery hiked up by 0.77% on-day to RMB 657 per tonne on Tuesday.
DCE ended the Monday afternoon session on positive due to tighter supply and anticipation of demand uptick after the Golden week holidays.
DCE closed lower on Tuesday for the second consecutive trading day this week.
Dalian Commodity Exchange (DCE) continued to rise on Tuesday after hitting limit up previously.
The Dalian Commodity Exchange (DCE) has reached the limit up on Monday, with the 2001 and 2005 contracts.
DCE ended the week above the RMB 600/mt on improved market sentiments.
DCE opened low and finished high at the end of afternoon session on Wednesday but still closed below the RMB 600/mt level.
DCE went downhill on Tuesday, due to easing of supply from higher shipments.
DCE fell slightly by 0.96% on-day to RMB 617 a tonne on Monday, after experiencing some support in the morning session before a selloff at the afternoon.
Supply concerns over Vale’s mining plant had pushed iron ore future upward on Friday, as the DCE posted a slight gain to end the week.