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Demand concerns lower iron ore prices

Iron ore futures prices in China slumped as rising coronavirus cases raised concerns over demand.

Demand concerns lower iron ore prices

Iron ore prices in China fell as the rise in coronavirus cases increased uncertainty over the demand outlook.

The quarry iron ore futures contract, the most heavily traded contract on the Dalian commodity exchange, fell 0.1 percent on the day to close at 738.5 yuan ($103.27) per tonne.

December delivery iron ore traded on the Singapore commodity exchange fell 0.1 percent to $95.3 per tonne.

Reinforced steel rose 1.2 percent, hot rolled steel (HRC) coil 0.9 percent and stainless steel 2.6 percent on the Shanghai futures exchange.

Dalian coke futures prices fell 1 percent, while coke futures prices rose 0.2 percent.

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