Industry News

Iron ore falls at end of bumpy quarter on China demand woes

Views : 156
Update time : 2022-06-30 21:42:22

June 30 (Reuters) - Dalian and Singapore iron ore futures fell on Thursday and were on track to post quarterly losses due to persistent demand worries for the steel-making ingredient in top steel producer China.

The most-traded iron ore for September delivery on China's Dalian Commodity Exchange ended daytime trade 2.2% lower at 791 yuan a tonne after four straight sessions of gains, stretching its quarterly loss to more than 10%.

On the Singapore Exchange, iron ore's front-month July contract SZZFN2 was down 1.5% at $120.90 a tonne, as of 0703 GMT, and on pace to mark its third consecutive monthly fall.

Dalian iron ore hit this year's peak at 948 yuan a tonne on June 6, while SGX iron ore had risen up to $168.65 a tonne on March 8, supported by hopes of additional stimulus for China's struggling economy.

Related News
Read More >>
Government intervenes to save Tomago Aluminium smelter and 1,000 jobs Government intervenes to save Tomago Aluminium smelter and 1,000 jobs
Dec .16.2025
Government intervenes to save Tomago Aluminium smelter and 1,000 jobs
Pakistan extends AD duties on aluminum beverage cans from 3 countries Pakistan extends AD duties on aluminum beverage cans from 3 countries
Dec .16.2025
Pakistan extends AD duties on aluminum beverage cans from 3 countries
China's new steel export license targets tax evasion, not export volume China's new steel export license targets tax evasion, not export volume
Dec .16.2025
China's new steel export license targets tax evasion, not export volume
SeAH Aerospace Materials reaches deal with Boeing for aircraft aluminum alloys SeAH Aerospace Materials reaches deal with Boeing for aircraft aluminum alloys
Dec .16.2025
SeAH Aerospace Materials reaches deal with Boeing for aircraft aluminum alloys