Iron ore prices added to the losses as concerns over China's steel demand escalated after the world's largest iron ore importer reported low steel production.
Iron ore futures on the Singapore Stock Exchange fell 1.83% on Friday to $105.4 per tonne, about half of their record price in May. Spot iron ore fell 3.38 percent to $119.96 per ton on Thursday.
“Declining steel production in China, exacerbated by signs of stress in the real estate market, is putting pressure on sentiment,” ANZ Research analysts wrote in a note Friday.
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