Many varieties of iron ore rose more than 1%

Many varieties of iron ore rose more than 1%

On Wednesday (April 23), the domestic commodity futures market mostly rose. Shanghai aluminum, iron ore, coking coal, japonica rice, hot rolled coils, and rebar rose more than 1%, while other rising varieties rose less than 1%. Methanol, polypropylene and other varieties fell, but the decline was less than 1%.

On April 23, HSBC announced that China’s manufacturing purchasing managers (PMI)’s initial value of 48.3 in April was expected to be 48.3, with the previous value of 48.0. Among them, the manufacturing output index was 48.0, the highest in two months, the previous value was 47.2.

After plywood reversed the downtrend, the main contract rose 0.63% to 144.5 yuan per piece, and the position was further reduced to 17,800 lots. Fibreboard continued to fall, falling 0.08% to 63.2 yuan per piece.

Hujiao's main September contract rose 144 yuan or 0.63% to 14015 yuan per ton, the lowest intraday low of 13755 points on December 26, 2008. The doubts over the cooling down of China’s economic growth and high inventory have put the market under pressure.

Iron ore traded below 800 points and closed at 786 yuan/ton, up 1.42%.

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