AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,957 Increased By 115.5 (1.17%)
BR30 30,770 Increased By 733.6 (2.44%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

BEIJING: Chinese ferrous futures jumped on Monday after the country's top steelmaking province of Hebei issued an anti-pollution alert over the weekend, with the most traded iron ore contract surging nearly 5% and coke rising more than 4% in early trade.

The northern Hebei province issued an orange smog alert - the second highest in a four-tier pollution alarm system - on Sunday in anticipation of a rise in pollution in the coming week, the local environment regulator said, ordering certain mills to cut sintering production.

Benchmark iron ore futures on the Dalian Commodity Exchange , for January delivery, surged as much as 4.8% to 827 yuan ($125.53) before cutting some of the gains to trade 2.9% higher at 812 yuan by 0330 GMT.

"While this temporary mandate looks to curb sintering and steel production, we understand the extent of these measures is less restrictive compared with those implemented at the same time last year," said Atilla Widnell, managing director of Navigate Commodities.

Portside iron ore inventories rose further, fuelled by rising shipments from miners and robust Chinese consumptions. They were up 1.4% from the week earlier to 130.8 million tonnes, as of Nov. 8, according to SteelHome consultancy data.

Steel futures on the Shanghai Futures Exchange also gained, with construction-used steel rebar rising 2.5% to 3,867 yuan a tonne and hot-rolle coils up 1.7% to 3,984 yuan per tonne.

Spot prices of iron ore with 62% iron content for delivery to China stood at $118.5 per tonne on Friday, SteelHome data showed.

Dalian coking coal edged up 0.3% to 1,303 yuan a tonne.

Dalian coke was up 3.8% at 2,480 yuan a tonne, after rising 4.1% earlier in the session.

Stainless steel futures climbed 0.9% to 13,970 yuan a tonne.

Comments

Comments are closed.