The iron ore futures maintained their weekly losses despite recovering on Friday, pressured by a weaker demand outlook in China, the biggest steel producer, due to a seasonal slowdown in the construction sector.
The Singapore Exchange June contract for the steelmaking component increased by 4% to $99.55 a tonne. It dropped by 1.8% to $94 earlier in the day, hitting its lowest since November and down more than 5% from last week.
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