Industry News

Iron-ore slides as traders fear China crackdown, weather disruptions

Views : 212
Update time : 2023-04-04 17:38:32

Rainstorm and a drastic drop in temperature levels are likely to affect many Chinese regions, according to the National Meteorological Centre.

A wide-range inclement weather is also expected to impact downstream steel consumption.

Moreover, fears of China's state planner issuing another warning to rein in iron ore prices undermined overall sentiment, analysts said.

China's National Development and Reform Commision issued several warnings on iron ore hoarding and speculative activities in the past month on rising prices.

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) DCIOcv1 ended the morning trading session 1.43% lower at 896 yuan ($130.02)a tonne, following a nearly 5% jump in the past week.

Related News
Read More >>
Aluminum stocks at Japan's 3 major ports slide in Oct Aluminum stocks at Japan's 3 major ports slide in Oct
Nov .18.2025
Aluminum stocks at Japan's 3 major ports slide in Oct
Rio Tinto to reduce output at Yarwun alumina refinery to extend lifespan Rio Tinto to reduce output at Yarwun alumina refinery to extend lifespan
Nov .18.2025
Rio Tinto to reduce output at Yarwun alumina refinery to extend lifespan
Aluminum extends rally to year highs amid tariff easing & supply constraints Aluminum extends rally to year highs amid tariff easing & supply constraints
Nov .18.2025
Aluminum extends rally to year highs amid tariff easing & supply constraints
China's alumina production with 8% growth rate races ahead of primary aluminium, signalling surplus pressure China's alumina production with 8% growth rate races ahead of primary aluminium, signalling surplus pressure
Nov .18.2025
China's alumina production with 8% growth rate races ahead of primary aluminium, signalling surplus pressure