China's ferrous futures dropped across the board on Wednesday January 2, the first day of work after the New Year holiday following the release of data pointing to a contraction in the country's manufacturing activity last month.
Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,377 yuan ($491) per tonne, down 24 yuan per tonneMay hot-rolled coil: 3,288 yuan per tonne, down 54 yuan per tonneDalian Commodity Exchange May iron ore: 489 yuan per tonne, down 4.50 yuan per tonneMay coking coal: 1,154 yuan per tonne, down 18.50 yuan per tonneMay coke: 1,879 yuan per tonne, down 14.50 yuan per tonne Raw materials The following were obtained from market sources:Global Ore, 177,000 tonnes of 62% Fe Standard Sinter Feed Guaiba, offered at the January average...