US EditionIron Ore Falls for Second Day Ahead of Chinese Steel Output Data
4 Articles
4 Articles
Iron ore futures slip on weak China data
The most-traded January iron ore contract on China’s Dalian Commodity Exchange declined 1.88% to 783.5 yuan ($109.25) a metric ton Iron ore futures slipped on Thursday, weighed down by signs of weak demand after China’s new yuan loans unexpectedly contracted for the first time in two decades, while steel prices dropped on high supply and seasonally lower consumption. The most-traded January iron ore contract on China’s Dalian Commodity Exchange …
Iron ore prices declined for the second consecutive session prior to important Chinese statements that are expected to give a clearer picture of the scale of the reduction in steel production by the world's largest metal consumer. The price of the steel industry's core component fell by as much as 1.8% in Asian dealings today.
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