Iron ore futures fall as China steel demand slows, virus cases rise

Iron ore futures fell sharply on Monday on concerns over China’s recovery. Data released on Monday showed China churned out a record of 92.27 million tonnes of steel. According to SteelHome data, iron ore port inventories fell to 107.75 million tonnes last week, the lowest since October 2016.   While the decline in port inventories …

DCE flats on lower steel demand and rising shipments

Chinese futures stayed virtually flat with gains at the morning session being offset by selloff in the afternoon session. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, was flat at RMB 762.50 per tonne on Monday. The steel rebar contract on the Shanghai Futures Exchange, followed the …