China's ferrous futures strengthen as sentiment lifts

Futures prices of major ferrous commodities throughout China including those of steel, iron ore, coke and coking coal gained more ground on July 10, as market sentiment continued to improve, exchange data show.

On July 10, the most-traded rebar contract on the Shanghai Futures Exchange for October delivery closed its daytime trading session at Yuan 3,123/tonne ($435/t), rising by 1.89% from the settlement price on the previous day. "Market sentiment has continued to improve with the resistance against involution-style competition rippling through enterprises