Dalian iron ore dips as mixed supply data, softer global steel outlook weigh
Updates closing prices with details
By Gabrielle Ng
SINGAPORE, Oct 24 (Reuters) -Dalian iron ore futures prices declined on Thursday, as investors weighed mixed production data while a softer global steel market outlook added pressure on prices.
The most-traded January iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 0.26% lower at 755.0 yuan ($106.13) a metric ton.
The benchmark November iron ore SZZFX4 on the Singapore Exchange, however, was 1% higher at $99.70 a ton, as of 0710 GMT.
Production reports from major miners have shown they have overcome supply disruptions to raise output in recent months, while steel production is falling, ANZ analysts said in a note.
Australia's Fortescue FMG.AX, the world's fourth-largest iron ore miner, on Thursday posted a 4% rise in its first-quarter iron ore shipments but noted a drop in realised prices.
However, South Africa's Kumba Iron Ore KIOJ.J said its total production in the third quarter decreased by 3%, leaving its sales guidance unchanged.
Thursday's readings follow higher-than-expected output estimates from other top miners, including BHP BHP.AX, and come at a time when rivals such as Vale VALE3.SA and Rio Tinto RIO.AX are moving to expand supplies.
China's crude steel output fell to 77.1 million tons in September, declining 6.1% month-on-month and dropping 3.1% from a year ago, World Steel Association data showed on Wednesday.
Japan, one of the world's top five largest steel producers, saw its September crude steel output fall 3.6% from August and 5.8% year-on-year, data from the Japan Iron & Steel Federation showed.
Unless Japan's output picks up in the coming months, the total for the current fiscal year ending next March could fall to a four-year low, said consultancy Mysteel.
Other steelmaking ingredients on the DCE were weaker, with coking coal DJMcv1 and coke DCJcv1 easing 0.37% and 0.61%, respectively.
Most steel benchmarks on the Shanghai Futures Exchange ticked lower. Rebar SRBcv1 dipped 0.12%, hot-rolled coil SHHCcv1 edged down 0.2%, wire rod SWRcv1 shed 0.53%, although stainless steel SHSScv1 gained nearly 0.6%.
($1 = 7.1139 Chinese yuan)
Reporting by Gabrielle Ng; Editing by Sumana Nandy and Mrigank Dhaniwala
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
