Iron ore futures in China started with a decline after the holiday ended on Monday.
January iron ore, the most traded on China's Dalian Commodity Exchange, fell 113.50% to 822 yuan per metric ton after reaching 8,828 yuan, its weakest level since August 2. traded at $30).
Coking coal DJMcv1 increased by 1%, while coking coal DCJcv1 decreased by 0.1%.
On the Singapore Exchange, the benchmark November contract for the steelmaking component was down 3.112% at $25.0755 per tonne as of 2 GMT.
Steel indicators were also declining in Shanghai. Rebar decreased by 1.7%, hot rolled coil decreased by 1.5%, wire rod SWRcv1 decreased by 4.8% and stainless steel decreased by 1.1%.
After strong third-quarter gains, market analysts said, supported by stimulus efforts aimed at China's weak economy and crisis-ridden real estate sector; they states that iron ore prices may soften in the near future due to the unclear recovery in the country.
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