Iron ore slides to over one-week low on lingering China demand concerns
Iron ore futures prices extended losses on Wednesday to their lowest levels in more than one week, pressured by persistent concerns about demand in top consumer China amid a lack of significant policy measures to boost steel uptake. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 3.53% lower at 805.5 yuan ($111.43) a metric ton, the lowest since Mar. 19. The benchmark April iron ore SZZFJ4 on the Singapore Exchange was 2.1% lower at $101.95 a ton, as of 0754GMT, the lowest sinceMar. ...
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