Iron Ore and Steel Resume in China Fall as Slack Demand Weighs

  • As per reports, China's iron ore and steel futures have fallen by 1% on Monday, as these two commodities retreated on continued worries over weak demand in the world's top steel consumer after a two-day rise.

    In March, China's crude steel output rose to a record of 72 million tonnes. However, this month the supply growth outran consumption.

    The Shanghai Futures Exchange's most-active rebar was down by 1.3 percent at 2,881 yuan, after it fell as far as 2,851 yuan.

    Reports also say that on Friday Iron ore's delivery to China's Qingdao port .IO62-CNO=MB rose 4.4 percent to $68.22 a tonne, which marked its biggest increase on a single-day since February 13.