Dalian iron ore prices fell as inventories increased

Dalian iron ore futures fell as China's real estate crisis continued and inventories rose. Iron ore prices increased on the Singapore Exchange.

The most-traded May iron ore contract on the Dalian Commodity Exchange fell 0.63% in daytime trading, ending at 943 yuan ($131.02) per metric ton. Additionally, coking coal DJMcv1 decreased by 0.09% and coke DCJcv1 decreased by 0.19%.

On the Singapore Exchange, the March iron ore SZZFH4 benchmark contract gained 0.33% to $126.70 per tonne.

Rebar SRBcv1 on the Shanghai Futures Exchange remained little changed, while hot-rolled coil SHHCcv1 decreased by 0.1% and stainless steel SHSScv1 decreased by 0.37%.

The negativities experienced in the real estate and stock markets in the world's second largest economy had a limiting effect on price increases.

Many steel mills in China do not show much interest in purchasing from spot markets. This was interpreted by market analysts as "they carried out most of the restocking in the previous weeks."

Rebar SRBcv1 on the Shanghai Futures Exchange remained little changed, while hot-rolled coil SHHCcv1 decreased by 0.1% and stainless steel SHSScv1 decreased by 0.37%.