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Markets Print edition: 2024-10-23

Iron ore retreats as weakening steel demand weigh

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By Reuters
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BEIJING: Prices of iron ore futures fell on Tuesday, weighed down by concerns that demand for the key steelmaking raw material will slide, with steel demand in top consumer China showing signs of softening.

The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) surrendered some earlier losses to end daytime trade 0.52% lower at 762 yuan ($107) a metric ton.

The benchmark November iron ore on the Singapore Exchange was 0.98% lower at $100.8 a ton, as of 0722 GMT.

iron ore China Dalian Commodity Exchange Iron ore price

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