Dalian iron ore slides as weak steel market weighs
Dalian iron ore futures prices slid on Wednesday, weighed down by a persistently weak steel market and lack of big-ticket stimulus in top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.23% lower at 881.5 yuan ($122.44)a metric ton. “Traders have shifted their focus back to reality after the important meeting and iron ore prices may feel further pressure from the weak steel market,” analysts at Sinosteel Futures said in a note. Policymakers in the world’s second-largest economy on Tuesday set ...
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