BEIJING: Iron ore futures were little changed on Friday after rising for three sessions in a row, as traders looked for clear direction amid mixed market signals.
The most-traded September iron ore on the Dalian Commodity Exchange (DCE) ended morning trading 0.06% higher at 814.5 yuan ($114.19) a metric ton.
The benchmark July iron ore on the Singapore Exchange was also listless, down 0.02% at $113.35 a metric ton, as of 0410 GMT. A rise in iron ore inventories at both mills and ports weighed on both Dallian and Singapore benchmark contract prices in early trade, but they later regained lost ground supported by relatively steady demand.
Portside inventory at 45 ports surveyed by consultancy Mysteel climbed about 2% week-on-week to 128.5 million metric tons this week so far, while that at mills rose 0.16% on the week to 84.84 million metric tons this week, after falling for six consecutive weeks, data from Mysteel showed.
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