8,087.24 TL BIST 100 BIST 100
28.93 $ USD USD
€31.38 EUR EUR
38.49 TL Interest Interest
78.05 $ Fossil Oil Fossil Oil
24.51 $ Silver Silver
3.83 $ Copper Copper
129.79 $ Iron Ore Iron Ore
385.00 $ Ship Dismantling Ship Dismantling
1,889.62 TL Gold (gr) Gold (gr)

China's iron ore continues its losses

Iron ore futures fell further on Tuesday.

China's iron ore continues its losses

Iron ore futures fell further on Tuesday. Reasons for this decline include weak Chinese economic trade data, pressure on officials, and steel production cuts continuing to weigh on the market.

January iron ore, the top trader on China's Dalian Commodity Exchange DCIOcv1, fell marginally 0.3 percent to 716.0 yuan ($99.26) per metric tonne for its fourth straight session.

Coking coal DJMcv1 fell 1.6% and coke DCJcv1 fell 0.5%.

On the Singapore Stock Exchange, September iron ore SZZFU3 was at $100.6/mt, down 0.4 percent as of 0710 GMT.

Steel benchmarks on the Shanghai Futures Exchange also declined. The most active rebar contract was SRBcv1 down 0.8%, hot rolled coil SHHCcv1 down 0.7%, wire rod SWRcv1 down 0.3% and stainless steel SHSScv1 down 0.1%.

According to customs data, China's iron ore imports in July decreased by 2 percent compared to the previous month.

Overall, the country's exports fell 14.5% year-on-year in July, while imports fell 12.4%, the biggest drop in outbound shipments from the world's second-largest economy since February 2020.


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