Iron ore futures retreated on Monday as traders adopted a wait-and-see stance after last week’s rally.
The most traded iron ore on the Dalian Commodity Exchange in January, daytime trading fell 1% to 811 yuan ($111.27) per metric ton.
In addition, coking coal DJMcv1 decreased by 0.8% and coke DCJcv1 decreased by 1.5%.
September contract SZZFU3 for iron ore on the Singapore Exchange fell 1.4% to $112.15 per ton as of 07:00 GMT.
In Shanghai, the situation did not change. Rebar SRBcv1 decreased by 1.3%, hot rolled coil SHHCcv1 decreased by 1.4%, wire rod SWRcv1 decreased by 0.9%; stainless steel SHSScv1 rose 0.1%.
Looking at the CME, iron ore showed a gradual increase over the past week, with a slight 0.24% decrease in its closing price on Monday to 112.69 USD.