Iron ore futures decreased on Monday as concerns over long-term steel demand continued to weigh on the market, while the lack of significant stimulus from China unsettled investors.
Iron ore for January, the most-traded on China's Dalian Commodity Exchange DCIOcv1, closed day trade down 1.6 per cent at 719.5 yuan ($100.03)/mt.
On the Singapore Exchange, September iron ore SZZFU3 decreased 1% to $100.8/mt by 0710 GMT, reducing gains from the previous session.
Total iron ore stocks at 45 major ports in China decreased by 122.9 million mt, or 1.6 million mt, from the week ended 3 August, surveys showed on Friday, as lower steel demand forecasts dampened trader sentiment. Tightening iron ore supplies eased some pressure on prices.
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