BEIJING- China’s iron ore futures fell for a second session on Thursday, amid concerns around future demand, as a top steelmaking city carried forward the output curbs on industrial firms.
The most-traded iron ore contract on the Dalian Commodity Exchange, for January 2020 delivery, declined as much as 2.6 percent to 634 yuan ($89.14) a ton in morning trade. It was down 1.2 percent at 643 yuan as of 0259 GMT.
The smog-prone northern city of Tangshan, which has an annual steel production more than the whole of the United States, continued output curbs for industrial firms after the week-long holiday and requested sintering output to be reduced by 50 percent.
“There are short-term concerns on iron ore demand, as prices tumbled on expectations of earlier anti-pollution controls during the heating season,” Huatai Futures wrote in a note on Thursday. – Reuters