Chinese ferrous futures climb on buoyant sentiment

Major ferrous commodities traded in China's derivatives markets advanced on Tuesday, buoyed by positive market sentiment following a press conference held by the National Development and Reform Commission (NDRC), the country's top economic planner, to discuss the macroeconomic situation and future outlook, Mysteel Global observed.

At the close of the daytime trading sessions on November 19, the most-traded contracts for iron ore, rebar, metallurgical coke and coking coal all recorded gains from the previous day. Iron ore futures led the rise among the major ferrous commodities, with the most-traded iron ore contract for January 2025 delivery