Iron ore futures in China continue to decline due to decreasing demand and increasing stocks.
Iron ore futures in China continue to decline due to decreasing demand and rising stocks. The most traded September iron ore contract on the Dalian Commodity Exchange (DCE) fell 2.11% to USD 115.11 per metric tonne. Coking coal and coke also fell 0.57% and 0.9%, respectively.
On the Singapore Exchange, the July iron ore benchmark fell 2.21% to USD 108.2.
Market analysts noted that purchases of raw materials, including iron ore, have decreased as steel production in the country has fallen and demand has decreased.
Steel indicators on the Shanghai Futures Exchange were also lower. Rebar fell 0.9%, hot-rolled coil 0.58%, wire rod 0.77% and stainless steel 0.69%.
Comments
No comment yet.