Iron ore futures in China edged lower in early trade on Tuesday as demand eased ...
MANILA - Iron ore futures in China edged lower in early trade on Tuesday as demand eased in the wake of a move to restrict production in top steelmaking city of Tangshan, but losses were modest amid hopes that steel mills will soon replenish their stocks.
Steel mills in the city were ordered to halt operations of sintering machines by at least 40 percent or even shut down, based on their emission levels. The fresh steel output restrictions in Tangshan have triggered “some short-term, sentiment-driven price changes”, said Richard Lu, analyst at CRU consultancy in Beijing.
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