China's iron ore prices declined consecutively

Following China's decision to skip the expected interest rate cut, iron ore futures began to decline.

The most traded iron ore contract on the Dalian Commodity Exchange (DCE) in May fell 0.6% and closed at 938.50 yuan ($130.65) per metric ton.

Coking coal DJMcv1 increased by 0.2% and coke DCJcv1 increased by 1.4% to 1,798.50 yuan per tonne, while coke DCJcv1 increased by 1.4% to 2,425.50 yuan.

On the Singapore Exchange, the February iron ore SZZFG4 benchmark rose 0.3% to $127.80 per tonne.

Iron ore shipments to China's major ports increased by 8.1% on a weekly basis to 30.91 million tons.