Benchmark prices for the steel-making raw material have decreased more than 20% since hitting this year's peak of just over $130 a tonne in mid-March, when sentiment was positive after China entered its peak spring construction season and emerged from tight COVID-19 restrictions.
Iron ore's benchmark June contract SZZFM3 on the Singapore Exchange traded 2.5% lower at $99.55 a tonne by 0710 GMT, hitting an intraday low of $99.30, its weakest since May 12.
DCIOcv1, the most-traded September iron ore DCIOcv1 on China's Dalian Commodity Exchange, settled down 3% at 707 yuan ($102.28) a tonne in day trade after falling to 704 yuan, its lowest since May 15.
Rebar SRBcv1 decreased 0.6%, hot rolled coil SHHCcv1 0.9%, wire rod SWRcv1 0.5% and stainless steel SHSScv1 1.4% on the Shanghai Futures Exchange.
On the Dalian bourse, coking coal DJMcv1 increased 0.1%, while coke DCJcv1 decreased 0.7%.
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