Top-traded iron ore for May delivery on China's Dalian Commodity Exchange ended day trading at 793.50 yuan ($113.75) per tonne, down 3.7 percent.
On the Singapore Stock Exchange, the steelmaking component fell 3.1 percent to $107.85 per ton.
Atilla Widnell, Managing Director of Navigate Commodities, said the COVID-19 surge in China "could cause a growing proportion of the strained population to wait for the current wave at home and destroy economic activity in the process."
The market downturn remained broad-based, despite Beijing vowing to focus on stabilizing its $17 trillion economy in 2023 and accelerate policy adjustments to ensure key targets are met, Beijing said on Friday after an agenda-setting meeting.
It was stated that many steel producers have cut production in anticipation of losses and weak demand during the winter months.
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