China's steel futures surged during morning trading on Wednesday January 30, while the iron ore contract hit its upper limit of 6% compared with the previous day's settlement price on news that Vale's output of the steelmaking raw material could fall by a tenth following a tailings dam breach last week.
Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,754 yuan ($557) per tonne, up 51 per tonneMay hot-rolled coil: 3,648 yuan per tonne, up 43 yuan per tonneDalian Commodity Exchange May iron ore: 589 yuan per tonne, up 1.50 yuan per tonneMay coking coal: 1,222 yuan per tonne, up 3.50 yuan per tonneMay coke: 2,061 yuan per tonne, up 10.50 yuan per tonne Raw materials Fastmarkets' MB 62% Fe Iron Ore Index was at $78.69 per tonne cfr...