Feeble Economic Data Vitiates Commodity Futures
Xu Wei
DATE:  Sep 15 2017
/ SOURCE:  Yicai
Feeble Economic Data Vitiates Commodity Futures Feeble Economic Data Vitiates Commodity Futures

(Yicai Global) Sept. 15 -- Commodity futures slumped today under the pressure of poor economic data outed yesterday.

For-delivery next January coking coal futures fell 7.26 percent to USD197 (CNY1,315.5) per ton at the closing ring, while January-delivery coke futures closed at CNY2,279 per ton, down 4.92 percent.

The main future contract for iron ore due in January closed down 3.05 percent to CNY508 per ton. The main future contract for deformed steel bar deliverable in January closed down 1.93% at CNY3,805 per ton. Both contracts have fallen by more than 12% and 6%, respectively, over the past two weeks.

Apart from bean oil and egg and other minor contracts, main contracts for chemical products, nonferrous metals and agricultural products all fell.

Growth of industrial added value, investment and retail sales decreased last month, while investment in fixed assets grew at a more than record low since 1999 from January to August, per data the National Bureau of Statistics released yesterday.

Downward pressure on China's economic growth is again rearing its ugly head, analysts noted.

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Keywords:   Future,Coking Coal,Coke,Iron Ore,Steel Bar,Commodity