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The most-traded May iron ore contract on China’s Dalian Commodity Exchange paired some earlier losses to end daytime trade 0.92% lower at 806.5 yuan a metric ton.The benchmark March iron ore on the Singapore Exchange was down 0.19% at $105.95 a ton by 0710 GMT, after hitting the lowest since February 6 at $104.2.
Analysts forecast a decline in iron ore imports to top consumer China in the first two months of 2025, as weeks of tropical cyclones and adverse weather in Australia disrupted shipments. “The ferrous market will likely be under pressure before solid steel demand shows signs of improvement,” analysts at Jinrui Futures said.
Other steelmaking ingredients on the DCE gained ground, with coking coal and coke up 0.05% and 0.27%, respectively.
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