- Advertisement -
BEIJING- Chinese iron ore futures fell below a key 1,000 yuan per ton level on Thursday, falling more than 5 percent to their lowest in more than two months as domestic consumption remains sluggish on steel production controls.
The most active iron ore futures on the Dalian Commodity Exchange, for September delivery, plunged as much as 5.6 percent to 999 yuan ($154.54) per ton, their lowest since May 27. They were down 4.6 percent to 1,009 yuan a ton.
“Domestic consumption (for iron ore) is weakening significantly… due to different perception of crude steel output cuts, iron ore prices have been fluctuated recently,” analysts with Huatai Futures wrote in a note. – Reuters
- Advertisement -
Author
- Advertisement -
