Iron ore prices in China continued to fall due to sluggish demand and a stronger US dollar. The most-traded September iron ore contract on the Dalian Commodity Exchange (DCE) fell 3.11% to USD 109.55 per metric tonne. Coking coal and coke fell 2.34% and 2.14%, respectively.
On the Singapore Exchange, the July iron ore SZZFN4 benchmark fell 2.33% to settle at USD 102.55.
Rebar on the Shanghai Futures Exchange fell 1.5%, hot rolled coil 1.11% and wire rod SWRcv1 2.07%.
Market analysts noted that steel demand in the country remained low due to seasonal temperatures and rainfall, which had a negative impact on iron ore prices. It was also reported that activities at some construction sites were temporarily halted.
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