SINGAPORE: Iron ore futures edged lower on Tuesday, paring some of last session’s gains, as prices of the key steelmaking ingredient will likely take direction from demand in top consumer China.
The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) fell 0.57 percent to 791 yuan (USD113.28) a metric ton as of 0300 GMT.
The benchmark February iron ore on the Singapore Exchange lost 0.59percent to USD105.15 a ton. Iron ore futures ended 2025 on a positive note as demand in China remained strong, with steelmakers restocking ahead of the Lunar New Year holiday in February.
Other steelmaking ingredients on the DCE fell, with coking coal and coke down 1.6 percent and 1.47 percent, respectively.
Steel benchmarks rebar fell 0.64percent and hot-rolled coil lost 0.37 percent. Meanwhile, wire rod gained 0.7percent and stainless steel firmed 1.37 percent.
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